Experts: modifying oil contracts and recover stolen funds for the advancement of the economy

02/11/2015 14:46

BAGHDAD / Obelisk: A number of experts and specialists in the financial and economic affairs, said Iraq has lost more than $ 300 billion because of financial corruption and protections officials during the past ten years, Marjaheen exposure of the country a big financial crisis can not be through salary payments in the event of low oil prices, As advised the government to amend the oil contracts and the activation of investment sectors and gas industry and agriculture.

He said economic researcher Muhammad al-Hassani, said that "international reports indicated that there is a big financial corruption after 2003 and so far, where confirmed that Iraq has lost more than $ 300 billion since 2006 and into 2014".

He said al-Hassani said, "Among these losses of more than $ 150 billion allocated for the deposit of oil imports, the Development Fund for Iraq, as well as about the disappearance of more than $ 50 billion due to corruption."

"The protections officials burdened the state where the budgets spent about the past more than 50 billion dollars to the protections of officials, including members of the protections of the House of Representatives and deputy ministers."

He noted that "there are programs fake and plans developed by ministers under the pretext of it future development plans and allocated funds estimated at more than $ 40 billion, but that do not exist currently on the ground is evidence that the money is also wasted without accountability or oversight." .

He said the "Iraq on the verge of a major financial crisis due to the continued decline prices of global oil and that the government might make in particular the issue of employees' salaries exchange critical, note that the 2016 budget allocated for salaries only and where there is any investment door or a development, however, they suffer from a financial deficit An estimated $ 23 billion. "

And he called on the government to "a real and genuine reforms in all aspects of the state in addition to the modifying oil contracts in line with developments in the oil market, and activating investment in the gas sector and the sectors of industry, agriculture and tourism, as well as the reduction of unnecessary expenses, to cope with potential financial crisis."

The prime minister Haider al-Abadi issued earlier reform package included reducing the number of protections for officials and the reduction of the salaries of the three presidencies and the abolition of the main positions of the Republic and the Vice-Minister as well as cancel and merge a number of ministries.

For his part, called on the member of the Integrity Committee in Parliament MP Haider Alfoada, the Iraqi judiciary to reveal the names of thieves and corrupt and those who tampered with public money, while the government called for coordination with friendly countries to return stolen money.

Alfoada, said a "process of recovery of stolen money is facing a number of problems, the first of the nature of the laws and regulations that differ from one country to another, putting a real obstacle standing in front of recovery."

He pointed Alfoada according to "dinars," a specialist in the economy, that "there is a response and cooperation from the states of Lebanon and Britain in this topic the other hand, there is open and a move by the Iraqi Foreign Ministry to activate this file with these two countries," pointing out that "the legal problems will continue to exist and it will affect directly in the recovery of these huge amounts of money. "

The head of the Supreme Judicial Council, Judge Medhat al-Mahmoud has approved the organization of the chief prosecutor in 1000 to recover a file was sent to the International Police, "Interpol" to be implemented in collaboration with the Ministries of Interior and Foreign Affairs, and regretted the lack of activation of these files.

Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.

Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.