One year of judicial corruption costs the country 0.5% of its GDP

Judicial corruption, a problem proven in recent days, causes serious damage to the national economy and, according to the calculations of the National Society of Industries (SNI), would cost as much as $ 4 billion.

Considering that Peru's gross domestic product (GDP) currently has an estimated value of US $ 200 billion (about US $ 700 billion), a single percentage point of GDP implies S / 7 billion, so that Impact of judicial corruption subtracts our economy from half a point of growth (0.5%) per year.

SNI's Public Policy Management explained that if the judicial system is improved, reach the standard of the judicial power of Chile (the least corrupt country of the Pacific Alliance, according to the World Economic Forum), the value of our GDP would be $ 4 billion more than the current one.

Ricardo Márquez, president of SNI said that in addition to more than the economic cost, judicial corruption deteriorates the competitiveness and development of the country.

"Corruption is particularly detrimental to economic growth because it discourages investment, which affects the predictability of the legal system; and, in this way, make businesses riskier and less productive. In addition, it reduces job creation as it generates legal insecurity, political instability and public insecurity, "he said.

Márquez claimed that the negative relationship between corruption Judicial and economic performance is evident when countries such as Finland, New Zealand or Norway, while having the lowest levels of judicial corruption in the world, are the most internationally competitive nations, unlike in Venezuela , in Chad or Burundi.

The Costs of Corruption

According to the economist Armando Mendoza, corruption is endemic and widespread and is linked in many areas, lying not only in the judicial system but also in municipalities, universities, health services

It is for this reason, he explained, that the costs of total corruption in the economy local are much higher. According to different methodologies, it can represent between 2% and 4% of Peruvian GDP per year. In 2016, the World Bank (WB) reported that the cost of corruption in Peru was 2% of GDP

"Corruption is an invisible phenomenon that is very difficult to measure and detect. exports that have the reported figures and measures, "noted Mendoza.

According to recent estimates of the Office of the Ombudsman, corruption in the country amounts to 10% of its public budget. It is worth noting that the public budget is $ 140 billion a year, so corruption would be in the range of $ 13 billion to $ 14 billion.

"If something has been proven, this assertion that politics and the economy go through separate chains does not exist." In times of uncertainty, economic agents are required to Wait for what's going on, "he said. The

19659014] According to the 2017-2018 World Economic Forum Competitiveness Ranking, Peru is ranked 89 (out of 137) in the Irregular Payments and Bribes category; shares the 96th place (out of 180) with Brazil, Zambia and Colombia in the corruption perception index of the NGO Transparency International

proposes to adopt the ISO 37001 standard [19659015] Faced with this situation, the SNI proposes the adoption of the ISO 37001 standard, with the aim of promoting good business practices and the implementation of the comprehensive reform of the Peruvian judicial system, which leads to an independent, predictable and objective judiciary, essential for attracting investment and creating formal jobs. they have 73% of Peruvian workers. "