Specialists suggest financial corruption threatens the country’s economy
Posted: March 10, 2013 in Iraqi Dinar/Politics

“The corruption financial and administrative located in the country’s paralyzing the Iraqi economy in all his joints.”

Experts said in the economic The proportion of financial corruption was behind the low level of the economy in the country, noting that financial corruption is not limited to bribes and embezzlement, but that the choice of the person is not appropriate is also face aspects of corruption.

economist said Bassem Jamil Antoine “The corruption financial and administrative located in the country’s paralyzing the Iraqi economy in all his joints. “explaining in his speech to the extent of” not only corruption bribes or embezzling funds only, but inefficiencies in business administration, and choose the person is not appropriate for the administration is corrupt too. between “that the delay laws that contribute the upgrading by economic falls also on the list of financial and administrative corruption
from his part, member of the Economic Committee in the House of Representatives Jassim Mohammed’s (range) that “financial and administrative corruption is the reason President to disrupt most sectors of the state’s economic longer vital artery for the sustainability of life.

attributed the causes of financial corruption and administrative support to the absence of oversight and accountability seriously by the competent authorities calling for the need. put effective control in all aspects of work, without which will remain the economy in paralysis and the sole beneficiary is always the spoiler.

Meanwhile, member of the Finance Committee in the House of Representatives Ibrahim al-Mutlaq, “No sector of the state is exempt from financial corruption that latter became infection aimed at eliminating the overall economic activities.

explained Mutlaq said in a statement to the extent that “corruption is rampant in the country from the smallest employee to the top noting that some of the staff dealing with references at completion of the transaction.

to the detection of the Minister of Planning and Development Cooperation Ali Shukri that state institutions use lower bids in the implementation of projects despite sufficient funds allocated to them and fear of transmission to higher prices in order not to accuse administrative corruption.

said Shukri in a joint news conference with Japanese Ambassador Masato Takaoka that “state institutions use lower bids in the implementation of projects despite sufficient funds allocated to them and fear of transmission to higher prices, because of fears of being accused of administrative corruption. “

and added that “the government allocate projects enough to be forwarded to international companies, but what we find today is to refer projects to lower bids, this does not guarantee implementation as required. “

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  • Blue/Jp …..Even though we have seen this type of realism reported now for a few years..It still rings of solid truth !!! The WTO has despondently tried to educate the GOI on these comments above but to no avail it seems at times…One thing for sure is that IRAQ is building up their reserves, increasing Oil production and sorting through the Counterfeiting rings with the help of secrete service’s from the US and Britain…The big thing on joining the WTO is really simple…..Iraq needs more than Oil as an export…Their economy would majorly dip downward further without solid exports to offset it’s import ratio…Iraq and the GOI think they can sustain itself just on OIL exports alone..they are hugely mistaken in this train of thought as the WTO is admittedly pointing out to them…The sad part is they have enough highly educated personnel there in the GOI and outside of the GOI to help them come together on this..PM Maliki is the big problem here with his One Man rule distatorship thought process.. at-least it appears so on the on set of things looking in from the outside.. Iraq will revalue and when she does it should be a descent RV imo..But I say this to that..Live your Life as though you only have a short time here…The RV will be a nice bonus to that Life fully lived..Hope all my friends out there are living your Life as there was no tomorrow..Don’t just wait for Life to come to you..Go get whats yours and enjoy what you have now !!! Enjoy your family, Create something new..patch up ole friendships..you get the message..Let the RV come to you,instead of you chasing it..jp
  • Blue/Jp…. We don’t hear as much today as we use to back in 2007 thru 2009 just how this next statement is probably the 2nd biggest problem in Iraq….” said Shukri in a joint news conference with Japanese Ambassador Masato Takaoka and added that “the government allocate projects enough to be forwarded to international companies, but what we find today is to refer projects to lower bids, this does not guarantee implementation as required. “…One thing we were noticing is that the Funds were being approved and allocated to the branches of Government to be implemented,(and not just International Companies but local Companies within Iraq as well) but the projects were not moving any further than the PM of the entity they were appointed to..And we saw Brothers and or family member’s being appointed as the prime Contractor of these projects that once again never took off..So this is where the buck or Dinar stops…I could bring up many examples we have seen of this in many Country’s through the years including my own right here the USA..So whats the answer…Clean up the corruption, appoint a new PM, create a working Parliament that can exercise what it passes without fear of death for voting the issues on a consciousness that has merit..And Create a marketable export that the Country is rich in resources..Nothing new here is being said…But it is time for Iraq to get real… and stop winning about the things that they them selves have orchestrated by their own powers at be..Just think of the wisdom they had and have at their disposal to be a powerful Nation with a striving Economy and a Currency that prevails those achievements..Good Luck Iraq…We hope you get it right this time….Blue/Jp 
    Note: As seen and written on The Right Choice Group in Facebook..
    Iraq is at the Crossroads here and needs to buckle up….
    Bluewaters2u wordpress Blog..
    Iraq Specialists suggest financial corruption threatens the country’s ( Iraq ) economy.
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