$120 billion disappeared during Maliki’s regime, says British report

A new British report revealed that about $120 billion US dollars from the surplus budgets of Iraq have disappeared during the term of the former Prime Minister Nouri al-Maliki, and further added that his successor, Haider al-Abadi received an almost empty treasury according to IraqiNews.Com. 

The report, that was issued by the London based International Center for Development Studies, revealed, “During the period between 2006–2014, Iraq made a large financial surpluses that could contribute to the reconstruction of the country,” pointing out that, “The total budgets in that period reached $700 billion US dollars and they mostly disappeared due to corruption.” 

The report added, “Prime Minister Haider al-Abadi received nearly an empty treasury from his predecessor, Nouri al-Maliki, that only contained about $700 million US dollars, making Iraq in an extremely difficult financial situation, especially with the declined oil prices and revenues, in addition to the cost of the war against ISIS.”