After the occupation ranked sixth in the level of international corruption .. Iraq prepares for tough austerity days
[tlm724] there is much talk and concern about the economy in Iraq as there should be
[tlm724] austerity is basically reducing spending
however the Abadi plan is much more than that, yes reducing the spending is important but reducing corruption is the key here
[tlm724] the former GOI took all that money for all these years budgets and spend it, bribed people or banked it etc... multiple years ! Billions and billions of dollars worth
[tlm724] the infrastructure projects never got done and the people suffered for it too while the fat cats in the GOI lived like kings
[tlm724] so the plan is to get rid of as much corruption as possible and to hold firm to accountability and oversight, reduce spending and lower their exceptions of oil proceeds
[rsp1] It's no wonder Abadi is cleaning house...a necessary evil
[tlm724] you bet it is rsp ! if he didn't then Iraq would go bankrupt !
[tlm724] so to me this is becoming a mute point, as long as they continue on the path Abadi and Jubouri started all will work out, I have no doubt about that and
[tlm724] they will pass the laws of investment and infrastructure and this will bring in tons of money and companies
[rsp1] Between Abadi cleaning house and the extra security measure on the new notes the corruption should slow down considerably.
[tlm724] which will get the projects done without Iraq having to pay up front, taking the immediate pressure off them so they can do what they need to do
[tlm724] rsp1 yes indeed !
[tlm724] so again I am not worried about Iraq financially
[rsp1] Corruption at the providence level - well, that'll be interesting to watch.
[tlm724] they have it all, so much more than oil and they are on the right path
[rsp1] They really do, timmy.
[tlm724] with the passage of the laws comes the necessary funds to create what is needed to exploit all their riches, finally !
Vice reveals: Kuwait expressed its readiness to extinguish Iraq's debts
[tlm724] Kuwait is getting happy, UN sign off and lets get going
[tlm724] that Kuwaitis have suggested opening the doors of investment in front of the Kuwaiti companies as an alternative to the amount of the remaining six billion dollars owed
[tlm724] so looks like Iraq will allow Kuwait a nice big opportunity to invest and get their money back that way Wink that works for me, tells us that Iraq's potential is still intact
Parliament is expected the arrival of the general budget of the beginning of next week
[tlm724] I expected the Finance Committee in the House of Representatives on Saturday, sending the federal budget for 2014, the beginning of next week after the ministerial committee has made some modifications to the doors.