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Toni Schönfelder
A lifetime of innovation



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Toni Schönfelder
A lifetime of innovation


Russia, 2003.03.07
Corruption Costs Russia USD 30 Billion a Year

According to Russian entrepreneurs, last year corruption cost businesses USD 30 billion, or between 10 and 12% of gross domestic product. The figures were cited by Mikhail Khodorkovsky, president of the YUKOS oil company, at a meeting between President Vladimir Putin and representatives of the Russian Union of Industrialists and Entrepreneurs. Khodorkovsky compared the problem of corruption with terrorism and unemployment. The number of state officials is increasing, which leads to an increase in corruption, said the YUKOS chief. To combat corruption Mikhail Khodorkovsky proposed the practice of "eliminating odious figures in the machinery of state as they lose trust

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The Toni Schönfelder Newsletter and website contains copyrighted material the use of which has not always been specifically authorised by the copyright owner. The material is being made available for purposes of education and discussion in order to better understand the complex nature of corruption in today's world. I believe this constitutes a "fair use" of any such copyrighted material as provided for in relevant national laws.

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