Minister Disputes Statements Regarding Investment Plan

Iraq’s oil minister said on Tuesday that recent statements made by some politicians regarding the investment plan over the past four years are incorrect.

“80 per cent of the budget is spent to pay the salaries of the employees and retired people, and to security forces and the health sector, while 20% was allocated to the investment plan,” Hussein al-Shahrestani said at a press conference with the planning minister in Baghdad, attended by Aswat al-Iraq news agency.

“The 20% is less than $40 billion not $300 billion,” he said, noting that “in 2006 $30 billion was allocated for the investment plan, while in 2007 it was $40 billion, and $41 billion in 2009.

For his part, Planning Minister Ali Baban said that “the average annual amount allocated for the investment plan from 2006 to 2009 is $38 billion from the oil revenues, which registered $171 billion for these four years.”

(Source: Aswat al-Iraq)

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