Iraq News - Local News - Baghdadpost

Squandered money in Iraq amounted to over trillion dollars: Shammari

The total money stolen and wasted so far from the Iraqi people exceeds $1,000 billion, former Minister Mohsen al-Shammari said on Friday, revealing the extent of corruption in the country.

Over 200 billion dollars were wasted from the annual budget amid inflated unreal projects, Shammari said in a statement.

Shammari mentioned other fields where money was wasted, saying that there are 100 billion dollars thst were squandeted in real estate inside and outside Iraq.

He added that there are over 100 billion dollars wasted in ports, border crossings, tax evasion and oil smuggling, noting that the losses of the Iraqi economy is due to mismanagement, corruption, terrorism and disruption of the industry, agriculture, education and health, besides the collapse of infrastructure, costing the state over 500 billion dollars.
Last Modified: Saturday، 17 November 2018 01:13 AM