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With Iraq’s electricity minister grilled by parliament over a power sector crisis the IMF warns that subsidies mean electricity revenues cover only 10% of costs.
Iraq’s Minister of Electricity Qasim al-Fahdawi received a vote of confidence from the Baghdad parliament on 29 August, after having been questioned about a power sector crisis that triggered demonstrations in many southern cities during the recent heatwave, which saw temperatures reach 50°C.
Mr Fahdawi says Iraq’s electricity sector has been worn down by years of war and under-investment. Baghdad’s finances have worsened since mid-2014, because of the need to fund a military campaign against Islamic State (IS) jihadists in northern Iraq and because of low oil prices. (CONTINUED - 1008 WORDS)