Financial corruption in Egypt has cost a little under LE3.5 billion of state funds for the month of June alone, says the HRDO Center to Support the Digital Expression, who cited the Wiki Corruption initiative.
The initiative found that the LE3.5 billion in loss of state funds ocurred through a total of 71 incidents of financial corruption incidents in Egypt during the month of June 2015.
The number of recorded financial corruption incidents is the largest ever compared with previous reports, the HRDO Center said in a statement Wednesday.
The forms of financial corruption in state bodies varied in this report as it included money laundering, fraud and the exploitation of power.
Embezzlement in June 2015 reached LE816,364, said the report, while the acquisition of public money totaled LE1.1 million and the waste of public money reached LE1.85 billion.
The size of manipulation, financial and administrative corruption have reached LE517 million.
Bribery amounted to LE11.1 million, in addition to money laundering, fraud, the exploitation of position equaled LE8 million, according to the report.
The most corrupt sectors in the state included respectively: the Social Solidarity Ministry, local councils, the ministries of agriculture and education, police stations, the Transport Ministry, the Housing Ministry, the Electricity Ministry, the Information Ministry, the Higher Education Ministry, the ministries of industry and endowments, and finally the ministries of finance, manpower, justice, health, foreign affairs, as well as youth and sports.
