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Total
annual allowances in the Iraqi investment budget for
2005 amounted to approximately 7,550 million Dinar
($5.1 billon), reported the Emirate newspaper
Al-Bayan on Monday. These allowances form 21.4% of
the
total public budget of Iraq.
A report issued by the Iraqi ministry of finance
mentioned that the industrial sector won the largest
part of these allowances, since it received 4937,9
billion Dinar, say 65.4% out of the total budget's
allowances, followed by the construction and
services sector, which gained 943.8 billion Dinar
(12.5% of the total).
Transportation sector capturde the third place with
4.419 billion Dinar (6.5%), while Kurdistan region
got 750 billion Dinar (10%).
The annual allowances to the projects of the oil
ministry hit 4500 billion Dinar, reflecting the
highest rate among institutions (59.6%). These
allowances will serve for reconstruction of the oil
sector and raising the revenues coming out of this
sector, which considered the main financer of the
state's budget.
The ministry of electricity occupied the second
place with allocations of 440 billion Dinar (8.5%)
and focused on projects of improving and developing
the generation and transforming electricity
networks. The ministry of housing and construction
gain allocations worth 365 billion Dinar (8,4%)
concentrated in the governmental construction
projects. The ministry of interior affairs gained
only 0.8% out of the all allocations.
www.menareport.com
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