Iraqi Finance Reports Missing Funds and Property Issues
The head of the Iraqi Board of Financial Supervision, Ammar Sobhi Al-Mashhadani, revealed that the Iraqi state is burdened with accumulated debts and financial dues amounting to trillions of dinars. Additionally, there are unpaid advances totaling nearly 100 trillion dinars since 2004 up to the present, along with 500,000 properties that have been encroached upon. He explained that one of the main obstacles to work is the failure to pay the state’s share of profits from public companies, the issue of encroachments on state-owned properties, and the existence of uncollected judicial amounts totaling 4 trillion dinars. He also confirmed that Iraq owns hundreds of unused properties abroad, and that the tax collection rate in one of the provinces does not exceed 1%. The report also addressed issues of corruption and mismanagement, along with outdated decisions and legislation in need of review and update, in addition to the weak capacity of the financial oversight staff.
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