Corruption swallows $5 milliards [Archives:2005/889/Local News]

October 27 2005

SANA'A-Oct.26- Mr. Ali Alwafi, head of the economic circle of Islah party, said that the amounts that were embezzelled during 2000-2005 were $ 5 milliard. Weekly Al-asima newspaper attributed this report to Mr.Alwafi. Alwafi pointed out that the corruption cases escalated to a very high rate during the last four years. The money fraud for this year was about 2 milliards in 2005. It was about one milliard in 2004.

Mr. Alwafi said that the corruption rate went in a gradual manner since 2003. The public spending rate, which was accompanied by financial transgressions, led to retreat in execution of development projects.

Mr. Ali pointed out that the 5 milliards were enough to cover our external debts which are almost equal to this amount.

The Islah leader expressed his sorrow for the grim state which curbed the ability to achieve a better standard of life for people.