Corruption costs Spain €90 billion a year, fourth most in EU

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COUNTING COSTS: Spain loses the fourth largest amount to corruption in the EU, photo credit: Wikimedia Commons

CORRUPTION is costing Spain around €90 billion a year and the country is losing the fourth largest amount to the practice in the EU, according to a new study.

Figures from members of the Green grouping in the European Parliament showed Spain came behind Italy, France and Germany in terms of lost cash.

Those countries lose an estimated €237 billion, €120 billion and €104 billion respectively, the study found.

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Spain’s annual corruption losses are equivalent to 8 per cent of the value of the country’s yearly economic output, or Gross Domestic Product (GDP). It is also equivalent to €1,949 for every person in Spain.

Spain and the other countries in the study have long-standing problems with corruption in politics, business and the police force.

The Gurtel corruption scandal which saw the conservative Partido Popular (PP) found responsible for siphoning public money into slush funds led to the fall of Mariano Rajoy’s government in June.

 

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