July 15, 2011



Majid Abdul-Kader, Baghdad Alarabiya News / Alwaleed Online News



The latest statement of the Minister of Treasury in Iraq Rafie Al-Esawi has raised alot of controversy within the Iraqi community. In his statement he confirmed that the total expenditure employed in restructuring the electric grid since 2003 is "enough to buy each Iraqi family a fully furnished apartment in the most luxurious european resorts !!".



Rafie Al-Esawi

Al-Esawi declared that a total of 107 Billion Dollars was spent on the electricity sector by the successive Iraqi governments since 2003. And according to economists , if these funds were employed in an honest and sound manner , Iraq's situation today would be totally different.





An economist stated to AlArabiya News that with this amount of money Iraqis could :

- Reconstruct The Grand Fao Port and Al-Jaff river

- Solve the housing crisis all over Iraq .

- Build factories all over Iraq .

- Cover and maintain the green areas all over Iraq .

- With this money Iraq could own several companies : (Siemens Electronic, Mitsubishi Power and General Electric Company).

Iraqs' expenditure on electricity sector alone exceeds the budgets of many countries, while in fact all of the important sectors in Iraq are still lagging behind such as industry, agriculture and transportation in addition to education, which has long characterized the Iraq and the Iraqis in history.





So far , Iraqi citizens are not convinced that a very rich country such as Iraq is unable to solve the electricity crisis that is years long and which has consumed an unbelievable amount of money , an amount that is equal to the budget of 20 years of a country like Bahrain !

And the corruption issues continue in the electricity sector , Alwaleed Online News has revealed this month a major case where the corrupt Iraqi government has signed fake contracts which equal 2 Billion Dollars.





107 Billion Dollars has vanished, and Iraqis continue to live in the dark .

This is how the occupation backed governments function !



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