Georgetown- The coalition government says the figures are alarming. More than double the country’s national budget was methodically being siphoned off in a well coordinated scheme using contractors and other means. Now the new Government, under pressure to recover the monies, is going after it, or at the very least the assets tied to them. It is estimated by the World Bank that almost $500B was being stolen annually.Joseph Harmon, who is in charge of the Ministry of the Presidency, disclosed that the establishment of a state assets recovery unit is but part of a multi-pronged approach to stamp out graft. The unit will have sweeping powers.
Recent reports where several vehicles belonging to the state were transferred under questionable circumstances the week leading up to the May 11 elections will be one of the areas that the unit will be zeroing in on. The figures would have significance if it is taken into account that last year’s national budget was $220B. If even of 10% or 20% per cent of what was taken over the years is recovered, it will go a far way to assist the economy, the Minister said.
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