Total annual allowances in the Iraqi investment budget for 2005 amounted to
approximately 7,550 million Dinar ($5.1 billon), reported the Emirate
newspaper, <i>Al-Bayan</i> 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.
