3 days ago
Iraq expects revenues at $545bln in five years
Iraq expects its revenues to reach around 710 trillion Iraqi dinars ($545 billion) during the 2024-2028 development plan, mostly from oil exports.
The revenues will allow the government to make investments needed to attain the targeted annual growth of more than four percent, planning ministry spokesman Abdul Zahra Al-Hindawi said.
In weekend comments published by the official Iraqi News Agency, Al-Hindawi said nearly half the expected investments by the public and private sectors would be channeled into the oil industry and housing.
He said oil revenues are projected at around IQD631 trillion ($485 billion) during the plan, nearly 89 percent of the total revenues.
Al-Hindawi said the government expects to invest around IQD157 trillion ($121 billion) while private investments are forecast at IQD84 trillion ($65 billion) during the plan.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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