Corruption Costs EU About $1Trln Per Year - Reports

Fakhir Rizvi Published December 07, 2018 | 10:17 PM

A corruption issue is said to cost EU member states up to 900 billion euros (roughly $1 trillion) per year, the Belga news agency reported, citing data of the the European Green Party.

BRUSSELS (UrduPoint News / Sputnik - 07th December, 2018) A corruption issue is said to cost EU member states up to 900 billion Euros (roughly $1 trillion) per year, the Belga news agency reported, citing data of the the European Green Party.

A study conducted by RAND Europe non-profit institute in March 2016 showed that the cost of corruption in Europe stood at up to 990 billion euros.

Meanwhile, according to the 2014 EU Anti-Corruption Report, corruption continued to be a major issue for Europe, and cost the European economy about 120 billion euros per year.

The 2014 report showed that the scope of corruption varied from one EU member state to another, citing Romania, Portugal and Greece among the countries where corruption remains a significant problem.