By N Saeed
Iraq has more than 1,200 stalled projects and nearly half of them are based in the capital Baghdad, according to a parliamentary report.
“The government is called upon to expedite their resolution, given the drain on public funds and disruption of services they represent,” said the report by the Parliamentary Committee on Services and Reconstruction.
Committee member Mahma Khalil said the general budget represents the state's programme and reflects its economic policies.
“However, the annual delay in its approval, coupled with weak investment allocations, are among the most prominent challenges facing the implementation of projects,” he said.
Investment allocations should increase to align with the need to implement infrastructure projects and create job opportunities, he added.
He warned that regional developments and Iraq's reliance on a rentier economy could negatively impact public revenues and expenditures.
“The priority in the upcoming budget should be given to the electricity and infrastructure sectors, particularly water, sewage, and road projects, due to their direct impact on improving the level of services provided to citizens,” he said.
(Writing by N Saeed; Editing by Anoop Menon)
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