 Crime and corruption cost Egypt approximately $6 billion per year and a total of $57.2 billion from 2000 to 2008, according to a report by Global Financial Integrity (GFI). Saturday, February 12,2011 20:05 | ||
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Crime and corruption cost Egypt approximately $6 billion per year and a total of $57.2 billion from 2000 to 2008, according to a report by Global Financial Integrity (GFI). Much of this money, the Washington-based-watch-dog group notes, was driven out by personal tax evasion, in addition to corruption and crime. The recent report also noted that the Middle East and North Africa region, including Egypt, has the highest rate of growth for illicit financial outflows (IFFs). "What is happening in Egypt is the result of a systemic condition of which Mubarak was just one part," said report author, Dev Kar. "Weak governance allowed rampant bribery, theft, crime, andtax evasion to drive billions of dollars out of the country every year." |
Sunday, February 13, 2011
International Report: Corruption Costs Egypt $6 bn Annually
