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The global economic cost of corruption is simply astounding, and it undermines the
efforts of all countries to improve the lives of their citizens. The World Economic
Forum estimated, in 2018, that USD 2.6 trillion, or 5 % of global GDP, were lost to
corruption. Despite many countries’ best efforts, that situation has not really
improved, and it is the poor and most vulnerable in the world who suffer the most
from the impacts of corruption. Governments reportedly spend USD 7.5 trillion per
year on providing healthcare to the world’s citizens, but USD 500 billion, or 7 %, of
that are lost due to corruption.
The World Health Organization has estimated that the cost of providing free
healthcare to all the world’s citizens would be USD 370 billion. It has also been
reported that corruption indirectly adds to the everyday cost of living for people, and,
ultimately, it can lead to raised production costs and reduce the profitability of
investments. Again, all of these impacts are most keenly felt in developing
economies.