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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Wasted budgets.. Estimates reach 450 billion dollars and the money of "Iraq's rich" is equal to 9 co

    Rocky
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    Wasted budgets.. Estimates reach 450 billion dollars and the money of "Iraq's rich" is equal to 9 co Empty Wasted budgets.. Estimates reach 450 billion dollars and the money of "Iraq's rich" is equal to 9 co

    Post by Rocky Sat 27 Jul 2024, 4:52 am

    Wasted budgets.. Estimates reach 450 billion dollars and the money of "Iraq's rich" is equal to 9 countries combined


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    2024-07-26 13:27
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    Shafaq News/ Corruption has deep roots in the heart of the Iraqi state, especially after benefiting from the "waste" of Iraq's budgets, which according to official statements reached 250 billion dollars over 17 years. While economic experts reveal that the numbers are "horrific" and almost double and are enough to give every Iraqi 10 dollars, those concerned reveal the number of "billionaires" in Iraq, whose percentage is equivalent to 9 countries combined, while the Integrity Commission reveals the percentage of recovered funds that prevented their waste and the obstacles to recovering the money smuggled abroad.
    Many Iraqis are calling for rationalizing government spending and focusing on maximizing revenues, amid government attempts to eliminate poverty through “social welfare” or “soft loans.” 
    On June 3, 2024, the House of Representatives voted on the tables of the Federal General Budget Law No. 2024 amended by approximately 211.9 trillion dinars (current and investment), which exceeds the estimated expenditures for the year 2023 by 7%, as current allocations amounted to 157 trillion dinars (74.1%), while investment allocations amounted to 55 trillion dinars (25.9%).
    Money builds countries 
    According to previous statements by the former Iraqi Finance Minister Ali Allawi, “out of more than a trillion dollars that represented the total budgets of Iraq over 17 years (from 2003 to 2020), more than 250 billion of it was lost due to (administrative corruption),” indicating that “the spending of this money was (financial benefit) for some parties, which led to a decline in the state’s capabilities, and that this money is sufficient to build several countries.”
    But according to economic experts who disagree with Allawi, “the money lost from Iraqi budgets is greater than the amount mentioned by the former finance minister,” indicating that “the total of Iraq’s budgets for the years following 2003 is more than $1.1 trillion, and the wasted amount mentioned by the finance minister is only for the money that was lost without official spending restrictions.”
    Experts estimate that the amount of “lost” money is estimated at “400-450 billion US dollars,” or about 40 percent of Iraq’s total budgets, which they consider sufficient to “build 400,000 model schools at a cost of one million dollars each, or 20,000 model hospitals at a cost of 20 million dollars each, and buy 28,000 F-16 aircraft, each at a cost of about 16 million dollars, or enough to give every Iraqi individual 10,000 dollars.”
    where did the money go
    According to experts, “fictitious contracts, overpriced contracts, non-existent employees, operating expenses, investment projects and contract transfers are the biggest waste of Iraqi funds,” while “the biggest waste is in ‘mismanagement, planning and politicization of the economy.’”
    Experts add that "Iraq had about 850 thousand employees before 2003, their numbers increased to more than 4.5 million employees in departments, most of which have turned into (time and money draining centers)," indicating that "what has been spent on services such as education, health, and defense does not exceed 30 percent of Iraq's budgets, while the rest is distributed between the pockets of the corrupt and black holes of waste, mismanagement, and reliance on consumption and import support at the expense of local manufacturing."
    According to the head of the Integrity Commission, Judge Haider Hanoun, in an interview with the Russian RT channel on February 23, 2024, “The development that took place in Iraq placed us in 154th place, not 157th, in the global corruption index (out of 180 countries), i.e. three places lower than the previous indicators,” indicating that “our looted money is large and some countries are embracing it and putting it in their major banks and even introducing it into their economies, and the main obstacle lies in revealing its size, the amount that was smuggled, and the names of the owners of the accounts deposited in foreign banks.” 
    He explained, "We are seeking to obtain the largest possible area to access the stolen amounts, but in reality, the reality that we must acknowledge is that the amounts are large. For more than 19 years, a lot of money has been stolen from Iraq, entered into accounts and deposits in giant banks and large economies, and some of the money went to terrorism."
    However, the Integrity Commission’s annual report for 2023 reveals that “the total amount of money recovered since its establishment amounted to more than 391 billion Iraqi dinars, in addition to (500 thousand) US dollars, while the value of the money that was prevented from being wasted amounted to more than 82 billion Iraqi dinars and five million US dollars, while the corruption money smuggled outside Iraq, according to the Commission’s report, was more than 11 million US dollars in addition to (10) real estate properties in one investigative case.
    In numbers..the richest people in Iraq
    In a new indicator of corruption, the director of the French Center for Studies on Iraq, Adel Bakhouan, pointed out on May 12, 2024, through statistics concerned with economic disparity in Iraq, that the country includes 36 billionaires, each of whom has a wealth of more than a billion dollars, in addition to 16 thousand millionaires, each of whom has a wealth of more than a million dollars.
    Bakwan stresses that "Iraq has a large percentage of young people, but they face challenges in achieving a stable future." He added that "68% of Iraqis are under the age of (30), and the unemployment rate within this group reaches 40%. These challenges are largely attributed to climate change issues."
    This is the same statement made by the economic expert, Nabil Al-Marsoumi, who stated that “the number of billionaires exceeds that of 9 countries: Kuwait, Lebanon, the Emirates, Nigeria, Hungary, Romania, the Netherlands, Portugal, and Denmark. This extremely wealthy group is small in number compared to the total Iraqi people and appeared through illegal trades such as arms, drugs, dollars, scrap, kerosene, and others. That is why this group appeared among us.”
    On March 17, 2024, the head of the Kurdistan Human Rights Monitoring Foundation, Hoshyar Malo, revealed that “poverty rates are steadily increasing in Iraq, with the state and government intervening in the market,” indicating that “Iraq does not have any economic program to confront the high poverty rates in the country.”
    He added, "Although Iraq has a huge budget, the country is still living in the fifties and sixties of the last century," noting that "the current ruling mentality in the country does not accept the idea of ​​the free market, and the Iraqi state and government interfere in the market, so the poverty rate increases day after day."
    Iraq and poverty levels 
    In this context, the Strategic Center for Human Rights in Iraq revealed on July 9 that there are more than 10 million Iraqis living below the poverty line, noting that the 2024 budget is “devoid” of support for these groups.
    In Iraq, the ongoing economic crisis and the rise in the dollar exchange rate and its impact on the prices of basic goods and materials have contributed to the rise in the poverty line. Statistics confirmed that the southern governorates topped the poverty rates, led by Muthanna Governorate at 52 percent, followed by Qadisiyah, Maysan and Dhi Qar Governorates at 48 percent, while the poverty rate in the capital Baghdad reached 13 percent, and in Nineveh Governorate it reached 34.5 percent, while the poverty rate in the central governorates reached 18 percent.
    The center’s vice president, Hazem Al-Radini, said in a statement, “The Ministry of Labor, through the Social Welfare Department, distributes monthly salaries to only 2 million families, and there are more than a million families that deserve a welfare salary that were not taken into account in the 2024 budget, which came without any new allocations for the safety net, in addition to more than 1,650,000 unemployed people registered with the Labor Department.”
    Earlier, the United Nations World Food Programme (WFP) revealed in an extensive report on activities to support the standard of living and adapt to the consequences of climate change in Iraq and empowerment programmes for affected communities in seven Iraqi governorates that the unemployment rate among Iraqi youth reached 35%, while poverty rates have increased since 2018, as 29.6% of Iraqis are below the poverty line, with 12.27 million people out of a population of 41.2 million, 70% of whom are young people.
    It is worth noting that the Ministry of Planning announced in 2023 that the poverty rate in the country would reach 25 percent, confirming at the same time that it was preparing a strategy to support the poor and marginalized groups and improve living conditions in various fields, including health, housing, education and improving income.
    Government procedures 
    On July 21, 2023, Minister of Labor and Social Affairs Ahmed Al-Asadi confirmed that “the measures taken by the government raised Iraq’s level by 20 degrees in the international poverty scale, according to the United Nations,” indicating that “through these steps, Iraq rose by 20 degrees in terms of poverty levels according to the latest United Nations report, as Iraq was ranked 86 and has now reached 66, and we will continue our work until Iraq reaches advanced stages.”
    The poverty rate in Iraq ranges between 22-25%, and Al-Muthanna Governorate (southwest) tops the list of the poorest governorates with a rate of 52%, followed by Diwaniyah and Dhi Qar Governorates in the south with a rate of 49%, according to statistics from the Ministry of Planning. 
    Observers see the need to support small projects by providing loans to citizens with limited income and the poor, which constitutes an important shift in the mechanisms of combating poverty, by providing opportunities for self-reliance and increased production among citizens who suffer from low incomes and those who are below the poverty line.
    But what is required, according to experts, is to establish comprehensive development and investment policies that work on the optimal use of Iraq’s natural and human resources, and in a way that contributes to significantly reducing the high poverty rates, as it is unreasonable, according to them, for millions of Iraqis to suffer from poverty, in a country that swims on seas of oil, gas, minerals and various natural resources.
    Current budget model
    "The model of financial budgets after 2003 is a model that relies on the centralization of the state, through increases in employee salaries and the establishment of investment projects and other diverse ones. This model was supposed to create an infrastructure for Iraq and go beyond this matter by completing all its components of electricity and other services since 2012 and moving on to the subject of work," economic and financial expert Mustafa Ahmed Hantoush told Shafak News Agency. 
    The economic expert adds, "Unfortunately, Iraq's budgets are spent on the same projects. There are projects that we are still working on since 2006, due to procrastination, extinction, and the halting of these projects."
    Hantoush explains that “there is a need for a new model of budgets that divides them into three sections: the first: a state model and programs specific to the government that are specific and do not include thousands of projects that cannot be completed. The second section is specified for the private sector, such as establishing industrial cities and development roads. The third section is a budget for loans to develop the work situation,” indicating that “I am not in favor of the Ministry of Planning’s budget that includes thousands of projects that are not completed due to their large number.”  
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