Cost of Corruption

There is no place or country immune to corruption. This abuse of power for private gain has several and serious consequences for the country, eroding the people's trust in the government, making policies less effective ad fair. Corruption compromises the government's ability to grow the economy, but how?

Corruption helps evade taxes

The more corrupt the country is the less taxes it collects , this because:

• People pay bribes to avoid them 
• when taxpayers believe their government is corrupt, the less likely they are to pay the taxes

Corruption wasted taxpayers' money 

Studies affirm, that most corrupt emerging market economies waste twice as much as the least corrupted ones. 

The government waste money when they spend it on cost overruns due to kickbacks or bid rigging in public procurement.

Corruption also distorts government priorities (heath and education, for example).

However if there is Political will there is a way to fight this problem

•  Invest in high levels of transparency and Independent external scrutiny
• reform institutions 
• Build a professional civil service

Source: https://www.weforum.org/agenda/2019/04/tackling-corruption-in-government/?fbclid=IwAR1YqjbNY_2ocKWF1ekum_dPztfiuDrcOxKGi_Uz8yKvnCgY_G-BwhWDnQQ