Philippines Losses Due To Anomalies Under Gloria Macapagal-Arroyo’s Administration Revealed
The amount of money lost by the Philippines due to the anomalies under Gloria Macapagal-Arroyo’s administration has been exposed.
In 2012, the Commission on Audit (COA) has revealed the amount of misused state funds and assets under the leadership of former President Arroyo.
The anomalies mostly occurred during 2007-2009 based on the audit findings of government auditors.
“Most audit findings categorically indicate pecuniary loss on the part of the government, as a result of violations of law, rules, and regulations,” written in the report quoted by Inquirer.
The Philippines allegedly lost P101.82 billion under the Arroyo administration due to anomalies and irregularities.
The losses came from abandoned projects, uncollected duties, missing assets, unaccounted cash advances, fictitious claims, and over 4,000 cases of unauthorized expenses.
A total of P101. 83 billion lost or equivalent to 5.6 percent of the country’s budget has lost under Arroyo administration.
The former president has been arrested and detained at a military hospital over graft charges after nearly 10 years of running the country.
What can you say about this? Just feel free to leave your comments and reactions to this article.
