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Parliamentary Finance: $ 312 billion from the government smuggled out revenues


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$112 billion in Iraq is missing: Official

http://www.rudaw.net/english/business/04062017 By 5 hours ago
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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10 minutes ago, SocalDinar said:

722 billion, of which 57 percent of this portion is exported outside of the country with another $112 billion missing.

Not sure what they mean by exported, maybe laundered.

I remember about three years ago, sources saying that Iraq was 100 currupt and 700 billion missing. 

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Thanks SD....Iraq has financed the world's finest high-level business tycoons in their corruption to extort and extract Iraq's wealth right out from under their noses...These payouts are distributed between the corrupt tycoons and the system administrative that cover the corrupt actions that line all of their pockets...As the article states

36 minutes ago, SocalDinar said:

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

...Ever wonder why the HCL can never get pass Parliament...They don't want to share the money with the people of Iraq could be an idea....

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2 hours ago, SocalDinar said:

“Corruption has support system">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.”

 

Something isn't adding up here....

 

I know there's been much corruption in the past--and there's still nefarious characters trying to steal. It's just part of their culture.

 

HOWEVER, what isn't adding up is if this is common knowledge.....and is STILL going on to the extent it has in the past before Abadi put the brakes on it.....then WHY are so many countries still throwing billions at Iraq if they think it's all going to be swindled away, anyways??

 

I don't think there are that many dumb people in charge of these other countries (including the U.S.) nor financial people behind the scenes that would agree to continue to throw away so much of their money if this corruption was still going on as strong as it was in the past. 

 

Just my :twocents:

Hold on a second!!  Who just stole my :twocents:??!!   :P

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19 minutes ago, climber7 said:

 

Something isn't adding up here....

 

I know there's been much corruption in the past--and there's still nefarious characters trying to steal. It's just part of their culture.

 

HOWEVER, what isn't adding up is if this is common knowledge.....and is STILL going on to the extent it has in the past before Abadi put the brakes on it.....then WHY are so many countries still throwing billions at Iraq if they think it's all going to be swindled away, anyways??

 

I don't think there are that many dumb people in charge of these other countries (including the U.S.) nor financial people behind the scenes that would agree to continue to throw away so much of their money if this corruption was still going on as strong as it was in the past. 

 

Just my :twocents:

Hold on a second!!  Who just stole my :twocents:??!!   :P

Exactly, you ha e 50 billion being returned from abroad...now this 112 billion... which on is it, or is it 162 billion ??? Who cares just RV I bet you'll magically find it then

Edited by Officiallytook
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That is going back all the way to 2003 also. At least they have Abadi and Jubouri in cockpit now and they are trying to do something about Maliki. Otherwise govts would not be trying to help Iraq recover from the reign of he evil Maliki and his Iranian  m-a-f-i-a.

Also, you know good and well Maliki was cleaning Iraq out right before ISIS rolled into Iraq in 2013 through to the summer of 2014. He had to of known what was coming and was getting ready for it. With Iraq taken over by ISIS who in the govt would ever know about the stolen money till later.

Edited by jcfrag
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8 hours ago, SnowGlobe7 said:

I have to agree...with that much Dinar unaccounted for it would be hard to give the OK to give any kind of value to the Iraqi Dinar.

 

Lets hope this is just letting the thieves know that they are being watched

True Snow and its articles like this one though possibly true give me little hope that this risky gamble will ever pay dirt... 

Also one would think that with that many millions floating around out there Surely Big Brother who watches us all would know where it is and freeze these assets of Ill gotten gain ...

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"The disappearance of 112 billion dollars of Iraq's money."

"اختفاء 112 مليار دولار من أموال العراق"
 
 Twilight news    
 
 
 

 

Twilight News/Financial Committee decision stated in the House of representatives Alhaji Ahmad Rashid, on Sunday, that some 312 billion have been smuggled abroad, pointing to the disappearance of the impact of more than 112 billion dollars.

Alhaji Rasheed said in a press statement, seen by the twilight news, integrity and financial committees the representative conducted closely following the disappearance of government revenue, but the results are still unclear about how to spend the revenue.

Rashid noted that 312 billion dollars of Iraqi revenue has been out of the country, alluding to the disappearance of 112 billion dollars of revenue and doesn't know where she is?.

Haji Rashid, said that the Iraqi Government spent only $115 billion of total revenue obtained last year, noting she spent another $58 billion in the private sector.

The Commission has prepared six reports on Iraqi revenue output abroad show that 57 percent of those revenues have been removed from Iraq.

Haji Rashid, said that the biggest problem for Iraq lies in a grand corruption within government institutions covered most of her joints, pointing out that the bulk of government business doesn't go through paying bribes, he said.

 
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14564.jpg
   
Economy News _ Baghdad:
 
Said the decision of the Finance Committee in the Iraqi Council of Representatives Alhaji Ahmed Rashid on Monday that about $ 312 billion have been smuggled abroad, pointing to the impact of the disappearance of more than $ 112 billion of them.
 
Rashid al-Haj said in a press interview followed the "Economy News", that "the committees of integrity and financial follow-up Alniabaten had held a minute on the disappearance of government revenues, adding that the results are still not clear about how Iraqi revenues exchange."  
 
He noted that "$ 312 billion of Iraq's revenues have been taken out of the country, alluding to the disappearance of $ 112 billion in revenue and does not know where you are?".
 
He said Rashid al-Haj, said that "the Iraqi government spent only 115 billion lar of the total revenue obtained by last year, noting that it spent another $ 58 billion in the private sector."
 
He stressed that "the Commission has prepared six reports concerning the removal of Iraqi revenue abroad shows that 57% of those revenues were taken out of Iraq."
 
"The major problem of Iraq lies in the presence of large-scale corruption within government institutions included most of her joints, pointing out that the bulk of government business is not going only through the payment of bribes."
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Views 1466   Date Added 06/05/2017 - 11:08   Last updated 06/05/2017 - 15:22   No. Content 7793
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  • yota691 changed the title to Parliamentary Finance: $ 312 billion from the government smuggled out revenues

Parliamentary Finance: $ 312 billion from the government smuggled out revenues

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Parliamentary Finance: $ 312 billion from the government smuggled out revenues

 

05-06-2017 04:11 PM

 

Euphrates -

 

He revealed the decision of the Finance Committee in the House of Representatives Alhaji Ahmed Rashid for smuggling $ 312 billion has been abroad, pointing to the disappearance of more than $ 112 billion , including the impact. 

Haj Rashid said in a press statement that the committees of integrity and financial follow - up Alniabaten had held a minute on the disappearance of government revenues adding that the results are still not clear about how Iraqi revenues exchange. Noting that $ 312 billion of Iraq 's revenues have been taken out of the country , alluding to the disappearance of $ 112 billion in revenue and does not know where you are? Adding that the government spent only $ 115 billion of the total revenue obtained by last year, and spent another $ 58 billion in the private sector. 

He stressed that the Committee has prepared six reports on taking out revenue abroad shows that 57% of those revenues were taken out of Iraq. Stressing that the major problem of Iraq lies in the presence of large - scale corruption within government institutions included most of her joints, pointing out that the bulk of government business is not going only through the payment of bribes.

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