PROJECTS: Iraq has 6,000 stalled projects - official

Some projects had achieved 90% completion rate

  
Construction labourers work at the site of a new hotel in Najaf, 160 km (100 miles) south of Baghdad April 26, 2012. Image for illustrative purposes.

Construction labourers work at the site of a new hotel in Najaf, 160 km (100 miles) south of Baghdad April 26, 2012. Image for illustrative purposes.

REUTERS/Ali Abu Shish

Iraq has nearly 6,000 projects that have been stalled since 2015, a planning ministry spokesperson told Zawya Projects.

Abdul Zahra Al-Hindawi said some projects had achieved 90 percent completion before implementation stopped, adding that most projects were stalled since 2015 due to the financial crisis resulting from the dramatic drop in oil prices and the deterioration in security environment due to ISIS threat.

Al-Hindawi said contractors working on these projects were collectively owed about $4 billion by the federal and local governments.

(Reporting by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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