Friday, January 23, 2004

500 million "misspent"

500 million dollars has been "misspent" by the Russian military:

Some 14 billion rubles, or nearly 500 million dollars, were "misspent" by the Russian military last year, the head of Russia's audit chamber said Thursday.

"We are not talking about theft, but money allocated to the defense ministry being misspent or used ineffectively," Sergei Stepashin was quoted as saying by Russian news agencies.

He said some generals were inflating the figures for the number of troops serving in their contingents in order to receive greater financing, and that hundreds of millions of dollars allocated by the government for one use were then spent on something else.


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