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Corruption: Costs of € 27bn for Austrian Economy

Published: March 16, 2012; 18:07 · (Vindobona)

Experts say that corruption increases in Austria. In 2012, adverse effects of € 27bn are expected.

Corruption: Costs of € 27bn for Austrian Economy / Picture: © Flickr

According to the scientist Friedrich Schneider at Johannes Kepler University in Linz, corruption causes enormous costs for the Austrian economy. In 2011, damage reached € 26bn, after € 25bn in 2010. “Corruption is a substantial obstacle to economic growth.”

Schneider indicated that a decrease in taxes and structural improvements in the public sector may reduce corruption…

This article includes a total of 232 words.

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