Kenyan Economy Loses 1 Trillion Shillings to Corruption Every Year

The Kenyan economy has been approximated to be losing one trillion shillings to corruption every year.

The one trillion lost through corruption equates to 30 percent of the country’s annual budget which is five to seven percent of the Gross Domestic Product.

Patrick Obath, the Multisectoral initiative against corruption chairman, said the impact and cost of corruption is multiple and called upon Kenyans to come together in their different capacities.

“Corruption destroys moral values and principles, undermines democracy, erodes institutions, affects the national economy and impedes development,” said Obath.

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Kenya scored 28 points out of 100 on the 2017 Corruption Perceptions Index reported by Transparency International. Corruption Index in Kenya averaged 22.62 Points from 1996 until 2017, reaching an all-time high of 28 Points in 2017 and a record low of 19 Points in 2002