Iraqi government officials have stated that only one out of four of the approved housing projects have started work whereas the remaining have been postponed.
Baghdad’s Secretariat and the Federal Ministry of Finance have been blamed for the projects’ suspensions. The delayed housing projects are estimated to worth nearly $3 billion. According to the chairman of Baghdad’s Investment Commission, only 14 out of 60 housing projects have been launched and the remaining have been shelved.
The 46 delayed projects have an approximate value of $3 billion and could immensely contribute to alleviate the severe housing crisis in Iraq, reduce unemployment and stimulate the economy.