Ukraine is seen as a country where political corruption have become a natural component of social relationships. A consensus has even emerged that it will be impossible for Ukraine to be successful without eradicating widespread corruption. Fighting corruption is a multi-dimensional process.
If Ukraine loses the chance to receive assistance from the IMF and other international donors in 2018, the government will be hard-pressed to execute planned fiscal expenditures in 2018. The fiscal indicators will be also revised for 2019 to lower real GDP growth and higher inflation.
It became clear that Ukraine has failed to receive the third and final tranche of the MFA III. Initially, the MFA III at EUR 1.8 bn was agreed in 2015 under a number of conditionalities that envisaged 22 measures in the areas of energy, public financial management, anticorruption policy, etc.
Public tenders are beneficial to the taxpayers who actually pay for them. According to the Public Procurement Office of Lithuania, in 2015, over 300 million euro were spent without a competitive procurement procedure. This means that taxpayers have most likely overpaid in the majority of cases.
According to a recent study conducted by the European Parliament, Bulgaria loses between 14 and 22 percent of its GDP every year due to corruption practices.The main question is therefore why there are no results in the fight against corruption in the country?
One thing Hungarian citizens, businessmen and politicians all agree on, is that rampant corruption is one of the main problems of the country. This situation calls for the increased transparency of government institutions, and for providing easily accessible information regarding the handling of public funds.
Georgia’s economic story after the collapse of the Soviet Union (SU) is important to be considered and analyzed in Georgia and in any developing and transition economy nations. There are several reasons why Georgia’s experience is interesting and valuable. First of all, it shows almost all the wrong sides of central planning and a centralized, bureaucratized and command economic system.
With a new scandal involving extensive corruption the country is alienating the countries of the West and as much as Prime Minister Orbán wants to follow Putin’s footsteps, the question is whether there would be any country left which would take Hungary seriously?
It has already been 25 years since Bulgaria started its unsteady transition to a market economy after a long period of Communist rule. However, our society is yet to experience the true benefits of liberal democracy, as well as arguably – capitalism itself.
That is, economy. The West has all the necessary means at its disposal to stop Putin from breaking the law. It only lacks the will to do so.