Economist: What Was Spent On Electricity Is A Sign That Spending Is Not Controlled In Iraq

Baghdad / NINA / - An expert in economic affairs, Raad Twij, criticized the statement of the Minister of Finance regarding what was spent on electricity during the last seven years, stressing that it constitutes a sign that spending is not controlled in Iraq.

He said in a statement to the National Iraqi News Agency (NINA): "The statement of the Minister of Finance regarding spending 120 billion dollars on electricity during the past seven years was a sign that spending in Iraq was not controlled."

He added, "It is the duty of the Ministry of Electricity to submit an account statement of its expenditures during these seven years, an average of 17 billion dollars per year, and the Ministry of Finance must be asked for final accounts and a financial plan consistent with a plan related to the production of the Ministry of Electricity, both at the level of electric energy and imported energy."

He added, "We have to think, from the other side, about electricity payments by consumers for electric energy."

Finance Minister Ali Abdul-Amir Allawi said in a press statement: "Iraq's inability to provide enough electricity to meet demand has cost the country nearly $120 billion over the past seven years."

Source: National Iraqi News Agency