International report: Iraq’s 2023 budget ushers in a new era of development that the country has not seen in 50 years

Iraq’s 2023 budget contains provisions for the largest projects in five decades, with the country aiming to benefit from increased oil export revenues, Construction Week reported.

Fadi al-Shammari, the prime minister’s political adviser, said these projects, worth billions of dollars, are primarily focused on the “development path.” This initiative entails the construction of a 1,200-kilometer railway and the largest highway in the country.

He said both the railways and the highway will connect the southern region of Iraq through the port of Fu in Turkey in the north and the launch of work is expected in 2023.

Al-Shammari was quoted by the official news agency on Friday as saying that other “strategic projects” are also included in the budget, which will soon be approved by parliament.

“The 2023 budget includes allocations for major projects that Iraq has not seen over the past 50 years… One of the biggest projects is the development path that we consider a turning point for Iraq in terms of trade and investment,” Al-Shammari said.

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