Spectator on facebook

Spectator on facebook

Economic think tank says state wasted €553.5 million in 2011

The state wasted €553.5 million in 2011 according to a study released by the INESS economic think tank on March 7, the TASR newswire reported. "This amount doesn't necessarily concern only waste in that year but includes waste that was published in the media or concluded in 2011," INESS stated, as quoted by TASR.

The state wasted €553.5 million in 2011 according to a study released by the INESS economic think tank on March 7, the TASR newswire reported.

"This amount doesn't necessarily concern only waste in that year but includes waste that was published in the media or concluded in 2011," INESS stated, as quoted by TASR.

The INESS report includes what it called 824 cases of waste, cronyism and legal disputes reported in the press since 2007. While the total sum includes costs of legal disputes, the waste alone amounted to €446.7 million last year, which equals the yearly expenditures on secondary schools, INESS wrote.

The figure for waste also includes so-called 'golden parachutes', severance pay given to public officials who were terminated after mishandling their offices as well as manipulated public tenders, TASR wrote.

INESS calculated that the state has wasted more than €2 billion since 2007, TASR reported. The institute wrote that most political parties running in the general election are considering increasing taxes while arguing that money collected from higher taxes would represent less than the amount of money wasted by state bodies each year.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

It's not your Slovakia, Bystrica protesters told Kotleba

President Andrej Kiska spoke to the crowd at the protest gathering, asking Slovaks what kind of country they want to have.

Lajčák gives two versions of the Evka story

The Foreign Ministry gives opposing statements about suspicious procurement related to the Slovak Presidency over the EU Council.

Government of PM Robert Fico (left) endorses Lajčák as its official candidate.

PM Fico: Investors should clearly declare whether they have encountered corruption or not

Representatives of the biggest investors in Slovakia met with Fico to discuss the local business environment.

PM Robert Fico meeting with representatives of big investors in Slovakia.

Blog: HR Marketing: Not everybody can be Google!

It is important to know who your target audience is and the position you aspire to achieve as an employer on the market.

Illustrative stock photo