Iraq launches $186b development plan

06 Jul 2010

(MENAFN) The Iraqi government has launched its 2010-14 five-year development plan that involves the implementation of more than 2,700 projects at a total cost of about $186 billion, Al Hayat daily reported.

According to government officials, the aim of the plan is to achieve an average annual economic growth of 9.38 percent, develop the infrastructure, reduce regional differences, provide 3.5 million jobs and diversify the economy of the oil-dependent country, the paper reported.

About $100 billion of the projects? costs will be financed by the state budget and the remainder will be funded through local and foreign investments, officials said.

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