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15-01-14

Iraq delays USD189 b projects

(MENAFN) Deputy head of the Iraqi businessmen's association said that projects worth USD189 billion have been delayed in Iraq due to the government's failure to enforce a funds management law, according to Emirates 24/7. The postponement of the projects has affected the country's economy and productivity, said Tariq Saleh. Tariq Saleh added: "Around 600 projects with a combined value of 220 trillion dinars have not been executed yet"they have simply been stalled or suspended because of the government"s failure to enforce laws on state funds management and public debt"the freezing of these projects have led to slackening of economic growth and reduced productivity."