Egypt’s losses from corruption have exceeded 600 billion Egyptian pounds ($76.6 billion) in addition to debts in excess of 900 billion Egyptian pounds ($114.9 billion), Almesryoon News revealed a new report showing yesterday.
The Arab Union for Combating Economic Crimes and Money Laundering also revealed that Egypt has also lost $32 billion due to external corruption.
In its statement, the union noted that corruption dominated all sides of the country’s administrative apparatus and there were approximately 70,000 corruption related issues each year.
According to the statement, Egyptian businessmen and statesmen are involved in the corruption, which include selling state lands.
It added that new policies need to be installed to make Egypt a strong country that fulfils the hopes of its youths.
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