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$112 billion in Iraq is missing: Official

By 4/6/2017
Iraq had the largest annual budget from 2013 to 2016 after Saudi Arabia. Yet, it has rated 16 out of 21 Arab countries in corruption. Photo: Rudaw
Iraq had the largest annual budget from 2013 to 2016 after Saudi Arabia. Yet, it has rated 16 out of 21 Arab countries in corruption. Photo: Rudaw
By Nwenar Fatih

 

ERBIL, Kurdistan Region - Iraq’s internal incomes in the oil sector alone since the fall of Saddam Hussein’s regime from 2003 to 2016 had reached nearly $722 billion, of which 57 percent of this portion is exported outside of the country with another $112 billion missing.

 
“We have six precise reports in hand on transferring cash outside of the country, indicating that 57 percent of the cash made in Iraq is sent outside,” Ahmed Haji Rashid, head of the finance committee in the Iraqi parliament, told Rudaw.
  
“What the government is using now is $115 billion and the private sector retains $58 billion. But $112 billion is still missing,” he noted.
 
Commenting on committees formed to follow up on the fate of the cash flow out of the country, he explained, “work has been done but courts in this country are not assistive."
 
Iraq had the largest annual budget from 2013 to 2016 after Saudi Arabia. Yet, it has rated 16 out of 21 Arab countries in corruption.
 
Adil Nuri, a Kurdish MP and spokesperson of the Integrity committee in the Iraqi parliament believes the source of corruption is that there is not a "serious will" to battle corruption by Baghdad.
 
“Corruption has support in Iraq with strong men backing it,” Nuri said. “There is not a serious will to end it by the prime minister, therefore our efforts to face corruption will have no results.”
 
“Arrest warrants are issued for the corrupt ministers but they end up leaving the country,” Nuri complained.
 

The Kurdish MP explained that through their what he described as continued efforts to investigate the missing cash in Iraq, they were able to locate $20 billion.

 
“But the corrupt are wielding power so that they took their cases from us in the parliament.”
 

According to Nuri, together with other domestic incomes including customs, taxes and tariffs “the total of Iraq’s incomes from 2003 to now would reach more than $1 trillion dollars. But where is it?"

 
Nuri went on to add, “through banks and in the name of business, they [officials] end up laundering the money."
 
"We just have the authority of observation," he said of their inability to take any measures against the officials. 
  
According to Transparency International, of 176 countries, Iraq is ranked 166 as the most corrupt countries in the World.
 
Youth under the age of 19 make up 50 percent of the population in Iraq giving it a major manpower. But, according to UN data, the poverty line has reached 13.3 percent and daily income of the population is no more than two dollars. Additionally, 18 percent of the youth between 15 and 24 are unemployed.

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Times | 4/6/2017
The most corrupt of them all and the man who institutionalised corruption in Iraq is Malaki, during his time in office he managed to set up a huge network of corrupt officials in all Iraqi institutions which has become a permanent thing. That's how he still manages to steal hundreds of millions of dollar's every year from the Iraqi state and no one can say or do anything about it because he has bought everybody off.
kick | 4/6/2017
BS! it's much more than that figur. Best part is those "investigating" corruption are very likely to be corrupt themselves. What Iraq needs is a french style revolution where the people round up the elite and start chopping off their heads.
Folk | 4/6/2017
Are you surprise folk. All Muslim countries are very corrupted. Not a single one can be honest. Just look around from morocco to Kazakhstan and south to Nigeria. From top to bottom they siphon trillion of dollar and hide them in western banks. That is why Muslim country are so poor. Not only that everyone of these countries do not have freedom and true democracy. Totally authoritarian. Indonesia and Malaysia are totally corrupted. Voting system in Malaysia is a sham. So far Indonesia is not in that category (sham voting). But that will go after the Islamic take over.
Cheek | 4/6/2017
Nuri maliki has got the cheek to complain about corruption . He and his government presided over the most corrupted and the most incompetent ruling party in Iraq. Resulting in the present conflict in Iraq. And the most racist religion wise.
townsend media | 4/6/2017
Ask Prime Minister Nouri al-Maliki. Former Iraqi Prime Minister Nouri al-Maliki’s wealth is estimated at $50 billion, the US magazine Forbes said.
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