Iraqi people to foot bill for reconstruction, says Rumsfeld

The Iraqi people will have to foot "the bulk" of the bill for the re-construction of the country's infrastructure, Defense Secretary Donald Rumsfeld has said.

Iraqis will pay for the rebuilding of their country through oil revenues, recovered assets, international trade, direct foreign investments and contributions from the international community, the defense secretary said.

Mr Rumsfeld told reporters at the Pentagon that Iraqi oil revenues alone are projected to reach as much as $20 billion annually in a few years - dependent upon infrastructure improvements.

"The sooner the Iraqis can defend their own people and generate revenue, the sooner they will be self-reliant and not dependent on either foreign troops or international assistance," Mr Rumsfeld said.

The $20 billion for Iraqi security and reconstruction contained within President Bush's $87 billion supplemental budget proposal for 2004 "is not intended to cover all of Iraq's needs", Mr Rumsfeld said.

"The bulk of the funds for Iraq's reconstruction will come from Iraqis," he added.

The New York Times has reported that a team of economic specialists led by the World Bank and the United Nations has estimated that Iraq needs $55 billion for reconstruction over the next four years – over and above the US package.

(gmcg)