Iraq ranks in 11th place worldwide for the amount of money flowing out via crime,corruption and tax evasion over the past ten years,according to Global Financial Integrity(GFI),a Washington-based research and advocacy organization.
Illicit outflows of cash averaged$10.6 billion per year.Data for Iraq was not available in 2001-2004,so only the years 2005 to 2010 have been considered.In 2010 alone,an estimated$22.2 billion left the country through illegal channels,putting Iraq sixth worst in the world;in that year,Iraq's budget stood at$72.4 billion,and its GDP was estimated at$127.5 billion.
"This has very big consequences for developing economies",explained Sarah Freitas,a co-author of the report."Poor countries lost nearly a trillion dollars that could have been used to invest in healthcare,education,and infrastructure.It's nearly a trillion dollars that could have been used to pull people out of poverty and save lives."
