Parliamentary Economy and Investment Committee announced on Wednesday that Former Prime Minister Nouri al-Maliki has squandered over 600 million dinars in failed projects.
In a press statement, member of the committee Najiba Najib asserted that these huge sums of Iraqi money were wasted on rehabilitating suspended factories.
Najib stressed that most of these projects haven't been carried out and were failures.
Agriculture Ministry also wasted over 600 mln dinars in an agriculture initiative that did not met its goals, Najib added.
The financial crisis that rocked the country in 2014 had a positive effect on Iraqi industrial sector in which it helped in rehabilitating factories to support the economy, according to Najib.
These moves require issuing new laws that aim to increase local products and protect it.