Kurdish MP warns from consequences of debts of Infrastructure law draft in Kurdistan Region

Baghdad (IraqiNews.com) MP, Ahmed Hassan Fayth Allah, of the Kurdistani Alliance warned from the consequences of the debts that will be caused by the Infrastructure law draft in Kurdistan region.

Speaking to Iraqi News (IraqiNews.com), he said ” The portion of Kurdistan Region from the Infrastructure law draft for the non-dominant projects will be 37.5 USD Billion and four USD Billion for the dominant projects where the total amount will be seven USD Billion yearly, but after five years of the execution of the projects, the benefits of the foreign companies will be 5% which means 9-13 USD Billion where those benefits must be paid by Kurdistan Region.”

“This law draft is used in the countries that suffer from financial crisis or have a war, but in Iraq we have good budgets resulted from the oil incomes and we have good commercial relations with most of the world countries where there is no need to endorse this law draft,” he added.

“The ratio of the investment budget was 33%, but we failed to use it correctly. So, we can not depend on this law draft where we do not know which are the foreign companies that will be involved in it,” he concluded.