Corruption attacks the foundation of democratic institutions by distorting electoral processes, perverting the rule of law and creating bureaucratic quagmires, Panorama.am writes citing United Nations Development Foundation (UNDP) report. December 9 marks the UN-recognized International Anti-Corruption Day, marked annually since 2004.
According to the United Nations, every year US$ one trillion is paid in bribes while an estimated $2.6 trillion are stolen annually through corruption – a sum equivalent to more than 5 per cent of the global GDP. In developing countries, according to UNDP, funds lost to corruption are estimated at 10 times the amount of official development assistance.
Corruption is a serious crime that can undermine social and economic development in all societies. No country, region or community is immune, the source says, adding, this year UNODC and UNDP have developed a joint global campaign, focusing on how corruption affects education, health, justice, democracy, prosperity and development.
