Iraqi Finance Committee Warned about Entire Bankruptcy in Iraq

Iraqi Finance Committee Warned about Entire Bankruptcy in Iraq

The Iraqi Parliamentary Finance Committee issued a statement that Iraqi government and regulatory authorities are unable to take legal actions against state institutions regarding corruption.

A member of committee Ahmed Sarhan issued a statement that the government of Iraq doesn’t have the ability to take legal actions against corrupt elements including at the border crossing points and customs. He added that the corrupt elements should be terminated within the federal departments and provinces. He said that there is a significant amount of corruption discovered at border crossings regarding smuggling causing negative impact on the Iraqi economy. He added that the border crossings are being considered one of the key elements participating in the economy of the country by bringing non-oil revenues in the country.


Sarhan further indicated that the government of Iraq should deal efficiently with these points and their officials should be monitored using perfect mechanisms to control those elements wasting public money. He stressed the government of Iraq especially the Directorate of border crossings should implement perfect & efficient mechanisms to eliminate the phenomenon of corruption because we are moving towards an entire bankruptcy in the state of Iraq. The reports are indicating the operations of large scale of corruption discovered at the border crossing points. These operations causing massive amount of loss to the state and the public money is going into the pockets of corrupt elements.

The Iraqi government has confirmed that at least 9 billion U.S dollars (11.9 trillion Iraqi dinars) have been allocated for Iraqi financial budget for the current year. This amount will be provided from non-oil revenues by implementing tariffs, fees and other non-oil revenue sources. Point to be noted that the head of Iraqi Parliamentary Finance Committee Muhammad Halbusi had issued a statement on 9th October 2016. This statement mentioned the failure of Iraqi government in getting these funds. It is important that Iraqi government has taken a number of major steps to stop corruption, but there are still some areas to be controlled using efficient mechanisms.

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