A study by the Inter-American Development Bank dubbed "The Cost of Crime and Violence" has outlined a breakdown of spending on crime prevention in Latin American and Caribbean countries.
Of the total cost, governments accounted for 31%; the private sector 47% and the loss of human capital or people killed was valued at 22%.
The IDB study also pointed out that the cost of crime in some European countries such as Poland, Ireland; the Czech Republic; Portugal and the Netherlands accounted for only 2% of GDP.
It says getting the cost of crime in Latin American and the Caribbean down to that level would free-up 1% of GDP to spend on social welfare programmes.
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