'40 percent' of Madagascar budget lost to corruption: PM

Prime Minister Kolo Roger speaks during the ceremony of appointment of the 31 Secretaries of State of his government at Iavoloha Presidential Palace in Antananarivo on April 18, 2014Madagascar’s Prime Minister Roger Kolo has vowed to stamp out corruption after revealing that 40 percent of his country’s budget is lost to graft. “The independent anti-corruption bureau, created in 2004, will be restructured and the second national stage of the fight against corruption will be adopted soon,” said Kolo, who was named prime minister in April. According to Madagascar’s 2014 Finance Act, its national budget should be 940 million euros ($1.3 billion).

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