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Finance: the economic crisis and corruption threatens the collapse of the country's economy
12/07/2015
The parliamentary Finance Committee, confirmed Sunday that rampant corruption and waste of public money in governmental institutions threatens the collapse of the country's economy.
Committee member Saleh Al-hasnawi said in an interview with the "trend" of rampant corruption in government institutions since 2003 so far equals the largest amount of money for investment purposes, and that the funds in 2014 except all operational waste.
He added: the year 2015 severe financial crisis requires concerted efforts of all government institutions concerned of the Ministry of finance and the Central Bank to curb corruption, indicating that in the event that corruption has spread to the more it will become in the coming period the scourge of corruption be addressed and would cause the breakdown of the Iraqi economy.
The Finance Committee revealed Tuesday, April 21, 2015 for the loss of about 360 billion dollars due to corruption and money laundering operations, since 2003, said the parliamentary Finance Committee member Haider Masood, told a press conference that "Iraq imports from oil sales since 2006 until 2014, some 550 billion dollars, and that 60% of that amount, about $ 360 billion, were sold in the auction currency Baghdad the Iraqi Central Bank, transferred out of the country by companies and offices Banking in mysterious circumstances ". Masood said that Iraq lost this money due to corruption and money laundering, where eligibility to purchase banks currency and transferred abroad under the pretext of buying goods and the goods are not up to Iraq, little.
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12/07/2015
The parliamentary Finance Committee, confirmed Sunday that rampant corruption and waste of public money in governmental institutions threatens the collapse of the country's economy.
Committee member Saleh Al-hasnawi said in an interview with the "trend" of rampant corruption in government institutions since 2003 so far equals the largest amount of money for investment purposes, and that the funds in 2014 except all operational waste.
He added: the year 2015 severe financial crisis requires concerted efforts of all government institutions concerned of the Ministry of finance and the Central Bank to curb corruption, indicating that in the event that corruption has spread to the more it will become in the coming period the scourge of corruption be addressed and would cause the breakdown of the Iraqi economy.
The Finance Committee revealed Tuesday, April 21, 2015 for the loss of about 360 billion dollars due to corruption and money laundering operations, since 2003, said the parliamentary Finance Committee member Haider Masood, told a press conference that "Iraq imports from oil sales since 2006 until 2014, some 550 billion dollars, and that 60% of that amount, about $ 360 billion, were sold in the auction currency Baghdad the Iraqi Central Bank, transferred out of the country by companies and offices Banking in mysterious circumstances ". Masood said that Iraq lost this money due to corruption and money laundering, where eligibility to purchase banks currency and transferred abroad under the pretext of buying goods and the goods are not up to Iraq, little.
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