Sep 22 2013
By Shaymaa Adel
Azzaman, September 22, 2013
Iraq’s yearly development plans have helped it reduce poverty to 19 percent from 23 of the country’s population of more than 30 million, Undersecretary of the Ministry of Planning said.
Mahdi al-Allaq said the country will see further drops in poverty levels as Iraqi ministries have already started implementing the five-year development plan stretching from 2013 to 2017.
He said rate of poverty was expected to slump to 16 percent in 2015.
Allaq also had good news about unemployment which he said it stood at 11 percent from more than 20 percent three years ago.
“The jobless rate will be slashed by almost half by the end of the five-year plan,” he added.
Allaq gave no figures of the allocations the implementation of the five-year plan will need, but the country’s foreign cash royalties have skyrocketed due to surges in oil exports.
This year, Iraq is expected to reap up to $150 billion dollars from its oil sales.
However, Allaq said diversifying the country’s income to make it less reliant on oil exports was a basic target of the economic plan.
“We exert all efforts so that the implementation of the new five-year plan will have far-reaching and comprehensive transformations of all sectors,” he added.
It is the first five-year development plan drawn by the ministry since the 2003-U.S. invasion of Iraq. Previously, the ministry prepared separate development plans for each year.
This post has already been read 584 times!