The Republic of Lost Billions: From 170 Billion Dinars in Dispute to Two Billion Dollars, Al-Halbousi’s Gift to Erdogan
The Republic of Lost Billions: From 170 Billion Dinars in Dispute to Two Billion Dollars, Al-Halbousi’s Gift to Erdogan
6-21-2026
Information / Exclusive…
In a country whose oil revenues have exceeded hundreds of billions of dollars over the past two decades, Iraqis are still asking: Where did the money go? And why do basic services continue to deteriorate despite the enormous size of government spending?
Controversial issues keep surfacing. The Ministry of Oil previously confirmed, during the Al-Sudani government, that it had sent 170 billion Iraqi dinars to the Ministry of Finance, while the latter denies receiving the funds. This raises serious questions about the mechanisms of financial oversight and the management of public funds.
In another matter, criticism has been raised regarding the Ministry of Education’s purchase of 500 photocopiers for nearly 8 billion Iraqi dinars, amid questions about the cost of the deal and its alignment with actual market prices.
In the electricity sector, the discovery of approximately 76 billion Iraqi dinars in the home of the Wasit electricity director—a close associate of Mohammed al-Halbousi—following his arrest, sparked widespread public outrage. The electricity sector has been one of the biggest drains on public funds since 2003.
In one of the most serious cases, official reports and audits revealed at various times the existence of approximately 175,000 “ghost employees” receiving salaries from the state treasury without performing any actual duties, costing the Iraqi budget enormous sums over the years.
On the political front, statements by MP Mohammed al-Shammari, a member of the parliamentary finance committee, stirred considerable controversy when he spoke about a government donation of $252 million to an African country, criticizing the failure to allocate these funds to social welfare programs or support impoverished groups within Iraq.
The privileges of the presidency and special ranks are also subject to ongoing criticism. Estimates suggest that the salaries and allowances associated with these positions consume a significant portion of government spending, at a time when millions of Iraqis are suffering from increasing economic and living challenges.
Added to this are circulating political and media accusations concerning massive financial transfers abroad, including the alleged smuggling of two billion dollars to Turkey—delivered to the son of Turkish President Recep Tayyip Erdoğan—in which Mohammed al-Halbousi is implicated.
Economic experts believe that corruption is no longer merely an administrative phenomenon, but has transformed into a protected system. The continued waste and smuggling of funds directly impacts development, investment, and public services. They point out that the persistence of corruption deprives Iraqis of the ability to build schools, hospitals, and electricity and water networks capable of meeting citizens’ needs.
almaalomah.me
