Issue |
E3S Web Conf.
Volume 318, 2021
Second International Conference on Geotechnical Engineering – Iraq (ICGE 2021)
|
|
---|---|---|
Article Number | 02005 | |
Number of page(s) | 11 | |
Section | Sustainable Construction Management | |
DOI | https://doi.org/10.1051/e3sconf/202131802005 | |
Published online | 08 November 2021 |
Investigating the Effects of Economic Crisis on Construction Projects in Iraq
Civil Engineering Department, University of Baghdad, Baghdad, Iraq
a g.fadhil1901m@coeng.uobaghdad.edu.iq
b abbasm.burhan@coeng.uobaghdad.edu.iq
Construction is a complex activity performed in an almost uncontrolled environment. Although, in theory, projects can be well planned in advance, there is a possibility that unexpected events and crises will disrupt these plans, which will affect the progress of projects. Construction companies can be easily affected by crises because the initial investment costs are very high in construction projects, which may lead to huge financial damages. One of the most prominent crises that Iraq faced was the financial crisis in 2014, which had a significant impact on various activities and the construction industry. This research aims to explore the most important causes of the economic crises in Iraq in general, investigate the impact of this crisis on the construction industry in Iraq particularly, explore the most important factors that contributed to the aggravation of the crisis in this area. Finally, explore the most important strategies adopted by higher authorities and construction companies during the economic recession that followed the crisis to mitigate its impact. One hundred fifty-one closed questionnaires were distributed for this purpose. The results showed that financial and administrative corruption is one of the most important causes of crises with (RII) 0.93. Also, 82% of the respondents answered that the projects had increased their duration significantly so that it was difficult to set a date for their completion due to the insolvency or inability of the Iraqi state to pay the financial dues to the contractors. This insolvency negatively impacted the construction industry during the crisis with RII (0.832).
Key words: Economic crisis / economic recession / construction industry / crisis effects / cabinet resolution 374
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.