One trillion rubles is annually stolen from funds assigned for state procurement

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One trillion rubles is annually stolen from funds assigned for state procurement - Stepashin

HAVANA. Nov 14 (Interfax) - Chairman of the Russian Accounts Chamber Sergei Stepashin has described as critical the situation with the embezzlement of funds assigned for state procurements.

"One trillion rubles is stolen every year from the funds assigned for state procurements," he said to Interfax on Wednesday.

"One fourteenth of the consolidated budget of the nation is embezzled," he said. "The situation is critical," he felt.

"That is why the State Duma is now handling a bill implying the transition to a federal contract system of procurements. This should make the procedure transparent and prevent large-scale embezzlement," Stepashin said.