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Commenting article: Bulgaria Ranked 38th by Illicit Capital Flows in 2001-2010

Bulgaria has been ranked 38th out of 143 countries by illicit financial outflows in 2001 - 2010, according to a study of Global Financial Integrity (GFI).

The capital outflows stem from crime, corruption, tax evasion, and other illicit activity.

The amount of illicit outflows from Bulgaria for the said period was USD 36.92 B. Bulgaria's northern neighbor Romania is 55th with USD 42.5 B.

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#1
Tania OZ - 11 Apr 2013 // 19:07:13

Bucharest, I see your point of view; but "stealing" is stealing and it is dishonest, no matter who does it.

And no need to worry about the Bulgarian press or their "reporting". And Novinite in particular are not to be taken too seriously, they are a pretty amateur mob.

#2
Chushki - 11 Apr 2013 // 14:26:32

Bucharest, I think you are getting paranoid - no slight on Ro was intended. Indeed, in Novinite's defense, when publishing economic ''facts'' on BG they often compare to Ro and present BG in a negative light (although should the Commies be re-elected then expect that to change).

As I stated before, the issue this particular statistic highlights is that both BG and Ro suffer from rampant corruption and illegal of transfer of funds by a few wealthy individuals at the expense of the wider, mainly impoverished population.

#3
Ivanko - 11 Apr 2013 // 12:43:20

Greed is ... people wanting to tax money from rich over and over again.

Seems like the communists in Europe want everyone to be poor. Tax everyone who still has something to tax. Did he already pay 5 times tax on that money and he still has left? Tax him again!
Tackle his bank!

And then people wonder why many want to get their money out of Europe...

#4
Bucharest12 - 11 Apr 2013 // 11:46:57

Tania and Chushky, the diference in population matters a lot (look at the top ten countries mentioned in the article). It is true that those ilicit funds are being obtained by a limited number of individuals but it is diferent to steal 37 bil from 7 mil people and to steal 42 bil from 21 mil, it shows a totaly diference in extent. And it seems quite common practice at times to trash Ro in Bg media a fact that I dont see in Ro media concerning Bg. And as we have lots of things in common, history together (Bg empire, Turkish empire) lots of customs and ancient prechristian reminiscences( martenitza, kukeri etc) I find it sad, unfair and anything but beneficial in this beauty contests.

#5
Tania OZ - 11 Apr 2013 // 10:38:53

Apologies Chushki, typed your name wrong last post.

Bucharest, besides it is not a popularity contest; it's about all the money siphoned out of all the countries listed and those countries missing out on all the taxes due, therefore the general population is missing out on their wealth potential, whilst at the same time the little guys (the regular citizens) are also paying their fair share of taxes, whilst the offenders are gaining monumental wealth and cashing in on their GREED.

#6
Tania OZ - 11 Apr 2013 // 10:19:43

Oh, I see that Novinite amended their their info on the link on the article to read 38 out of 143 and not 38 out of 71 as they originally wrote.

Apart from that, Chuski, I totally agree with your comment.

#7
Chushki - 11 Apr 2013 // 08:47:37

Bucharest, size of population has little to do with it and therefore the comparisons are fair. The illicit capital following out of both Bulgaria & Romania is organized by criminal gangs & 'business people' operating on the edge of legality, and NOT the general population, most of whom live in poverty.

#8
Bucharest12 - 11 Apr 2013 // 03:27:38

The comparison to Romania is rather unfair. Let's show we are not the worst but when you compare the 37bilion to 42 bilion as compared to 7mil population vs 21mil it's not that flatering

#9
Tania OZ - 10 Apr 2013 // 17:59:56

Actually, I just hit the link and Bulgaria is 38th out of 143 on the list.

#10
Tania OZ - 10 Apr 2013 // 14:14:15

That is a mountain of money, almost 37 BILLION US dollars that has left Bulgaria in 10 years. Think of all the wealth and infrastructure to the nation it could have created and contributed to a better life for all.

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria