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Néstor David
Néstor David
· 09 Jul 2021
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Corruption, the main dish of the day.

Corruption is a global phenomenon that hits the poor harder and hinders inclusive economic growth and steals essential funds services that are desperately needed.

Here are a couple of facts about it.

One trillion dollars in bribes is paid every year, according to the International Chamber of Commerce, about 2.6 trillion dollars per year is stolen through corruption, representing more than 5% of global GDP, according to the World Bank.

In developing countries, an estimated amount of money is lost due to corruption ten times more than that devoted to official development aid, according to the UN Development Programme (UNDP).

This UN agency estimates that up to 25% of public spending on medicines may be lost due to fraud, bribery and other corrupt practices.

Annual expenditure on pharmaceuticals is estimated at about $50 billion and in some countries pharmaceutical expenditure represents up to 50 per cent of total health spending.

Corruption increases the cost of building water infrastructure by up to 40 per cent, making it necessary annually up to $12 billion to provide safe drinking water and sanitation, according to UNDP.

Photography owned by @Pixabay, free photo gallery.

#politics  

  • Comments (23)
zulusys21
Corruption dates back to ancient times, which is now more evident and openly
ReplyTranslated from Spanish Show original
MAGALY
And every day there is more corruption, it's an evil that will never end
ReplyTranslated from Spanish Show original
Eza Chavez
Corruption is one of the evils that most affect countries, even in China there is death penalty for corrupt politicians, who comment on fraud, bribery, aggravated robbery.
ReplyTranslated from Spanish Show original
Néstor David
@Eza Chavez It would be nice if those laws spread all over the world.
ReplyTranslated from Spanish Show original
Dewaputra
Corruption is hard to get rid off, unfortunately.
Reply
rorocando
Excelente
Reply

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