How corruption affects the economy of a Nation?

[Ltherman]

Seeing videos of how some countries that were birthed the same time with us grow to become developed nation in their own rights really brings one to see how endemic corruption can be and how it can bring a nation to its knees.

 

[zenith]

That is the monster that is destroying our country and other African countries as well.there will never be development in any country that is suffering from corruption because all the leaders do is to fill their picket not minding what will be the effect.

 

[Divulgence]

Countries that have a high level of corruption are unable to function efficiently or prosper at an economic level, causing suffering for society as a whole

 

[Oloritoks]

Corruption affects the nation's economy in a very adverse form which is strangulating every strata of the economy but it can be curbed if the government of the day show the right will to tackle it headlong.

 

[Ltherman]

An extant example are the african states who despite so much potential in mineral resources and himan capital are still struggling with achieving the basic social amenities for its citizenry. The wealth of millions of people are controlled by a minute few who find themselves in position of authority.

 

[Khezo]

Well the way corruption affect any country is really negative. Corruption makes the economy of any country hard to live in because some people at the upper level are just spending the money meant for a several people

 

[Eyiteepraise]

Corruption indeed is one of the main reasons behind a country's not developing. Corruption has affected all areas of the country development, when it comes to a developed country, we see that they actually made it through businesses and investment in the country

Many underdeveloped countries are suffering because their leaders are too corrupt. They steal money meant for developing the country to save in banks abroad and also to send their children to expensive schools while their Citizens suffer due to lack of infrastructural development and swift policies that would provide an enabling environment for businesses to thrive.
With This, less businesses succeed and then the economy doesn't improve, thus making life difficult.
How else does corruption affects a nation's economy?

 

[Ltherman]

How do you explain when a person in power embezzles public funds and yet nothing will be done about it. Its is the height of inhumanity to humanity and its really saddening that the citizens seem to be powerless about what is happening.

 

[Kehinde]

Corruption undermines the fairness of institutions and processes and distorts policies and priorities. As a result, corruption damages the legitimacy of regimes leading to a loss of public support and trust for state and government institutions.

 

[Psalmsavatar]

In Nigeria, corruptions stifle economic growth; reduce economic efficiency and development despite the enormous resources in the country.
[automerge]1612301953[/automerge]
In Nigeria, corruptions stifle economic growth; reduce economic efficiency and development despite the enormous resources in the country.

 

[Ltherman]

When i read in the papers how institutions of government connive to pad their budget which will be siphoned with phony projects goes to demostrate in the smallest bit how endemic corruption has eaten deep and stifled the growth of an entire nation. Virtually all african nations major in one mineral resources and abundant agricultural produce.

 

[tublack]

I think corruption has adverse effects on every sector it comes across on the world, it is not right and it never becomes right. It eats deep into your business and ruins it. It never ends well. Just like lies it continues and continues, no coming back

 

[Neta Sam(Samuel Odunlade)]

Corruption has affected many nations of the world especially developing countries, the corruption viruses has infected all the sector, it's not only in Government parastarters, people of that Nation have been built to a system of corruption and is h nations don't make progress, if they make progress they will take a mile backward

 

[Lyrrex]

In terms of economic performance and growth, corruption not only affects economic development, it also affects the fair distribution of wealth across the population, rising income inequality, undermining the efficacy of social welfare services and eventually contributing to lower levels of human resources...

 

[Georgeadawara1]

Corruption is one of the most economical down full in my country today.
Corrupted leader in the nation can bring down the economy of the nation today the problem we face is by having a corrupted leader or rules to the level that even the younger generation are coping for the corrupted leader. If it's the government money we will be using to produce to our family and friends that their will be no development at all.

 

[eojo2401]

The major problem in Nigeria is corruption. Everyone wants to still from public fund. Police will stand on the road to collect bribe. Judge will collect bribe to sell justice to highest bidder. Lecturers will have sexual immorality with students to give them marks, job applicant will paid bribe to get the job and so on. Infact the number of people that are waiting to still more than those that are stilling already.

 

[Milz]

Corruption is very terrible. It's terrible in the sense that does that want to curb corruption are just sidelined or even killed in the process. Everybody is corrupt starting from those in business to even those in offices.

 

[Briangsam]

Corruption is a major problem of the world, especially in Africa. Its effects are felt more in this region as well. Citizens are not getting the dividends of the so-called democracy and it has driven the nations and the economy aground. It is cancerous.

 

[Denuola]

Just like somewhere else in the world the negative effect of corruption are the same; it reduces foreign direct and domestic investment, increases equity and poverty.
Not only does it affect economic development in terms of economic efficiency and growth,it also affects equitable distribution of resources across the population.

 

[Heatman]

Many underdeveloped countries are suffering because their leaders are too corrupt. They steal money meant for developing the country to save in banks abroad and also to send their children to expensive schools while their Citizens suffer due to lack of infrastructural development and swift policies that would provide an enabling environment for businesses to thrive.
With This, less businesses succeed and then the economy doesn't improve, thus making life difficult.
How else does corruption affects a nation's economy?

From my experience ever since I have being in my country, the rate of corruption here have been making the poor masses suffer while the government are the ones enjoying at the expense of their citizens. They pay low wage while they stock up all our funds in Swiss bank accounts.