Corruption costs Yemen billions

Published February 27th, 2013 - 08:41 GMT
Corruption costs Yemen $10 billion, according to a new report
Corruption costs Yemen $10 billion, according to a new report

Yemen loses about $10 billion because of widespread corruption at various public offices, a recent official report has said. 

The official Althawra newspaper quoted the report as saying Tuesday the corruption forms included privatizing state corporations and assets for very cheap prices, maybe for less than 25 percent of the real prices of these public institutions. 

Other forms included looting state lands, granting tax and customs exemptions, some unreal and others for powerful people as well as bad management of the public facilities, mainly the productive sectors. 

The report held the private sector as being part of the corruption problem through its illegal import acts, accounting records and tax and customs avoidance as well as getting state lands for unreal projects under different names.

It stressed the importance to establish good partnership between the public and private sectors in an effort to fight corruption which remains one of the key reasons affecting the flow of investments into the country. 

Furthermore, the report urged to activate and expand the authority of the central organization for control and auditing and the supreme national anti-corruption commission to play an active role in fighting corruption. 

Separately, an official report by the finance ministry said Tuesday the country’s crude oil revenues increased by 57 percent in 2012. The revenues increased from the expected figure of 483.9 billion Yemeni Rials ($2 trillion)to 764.3 billion Yemeni Rials due to the increased ratio of the government’s oil, the report said. 

Also, planning and international cooperation minister, Muhammad Al-Sady, said only 23 percent, about $1.759 billion of the total donor aid of $8 billion pledged last year has been already signed.

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