Trade Ministry denies reports of 934 billion dinars missing from budget

BAGHDAD – Iraq’s Ministry of Trade on Sunday denied social media reports claiming 934 billion dinars (about $659 million) had gone missing from its budget, calling the allegations baseless and saying the ministry has not yet received its operational allocation for the year.

In a statement, the ministry said, “What was published is completely untrue and does not rely on any document or proof.” It added that its operational budget for the current year has not been disbursed, and that it has continued work since the start of 2025 using “limited self-generated resources witnessed by regulatory and financial bodies.”

The ministry said claims that hundreds of billions of dinars had disappeared were inaccurate because “talking about missing funds that were never received by the ministry in the first place is an allegation disconnected from reality.”

“We affirm our full commitment to safeguarding public funds and working according to standards of integrity and transparency,” the statement said. It urged media outlets and the public to verify information before sharing it, warning that “spreading rumors causes confusion in public opinion and undermines national efforts to serve citizens.”

The ministry concluded by saying “the ministry’s doors will remain open to anyone seeking the truth” and pledged to continue its work without being deterred by “rumors or attempts at misinformation.”

The denial comes amid heightened public sensitivity over reports of missing state funds. Last week, Labor Minister Ahmed al-Asadi ignited controversy when he said the Social Protection Fund contained 430 billion dinars (about $303 million) when he took office and that its capital later reached 2.53 trillion dinars (about $1.78 billion). He then said his ministry found “the two-and-a-half trillion had all been withdrawn,” describing a dispute between the Finance Ministry and Rafidain Bank and claiming the money “was used to buy bonds.”

However, Iraq’s Federal Integrity Commission said Tuesday that the full 2.5 trillion dinars rumored to have vanished from the Social Welfare Fund is present in the account, following an investigation triggered by the minister’s televised remarks and the subsequent public outcry.