News » Economy 29 October, 2017, 10:35
Ukraine among top three countries with biggest shadow economies

In 2016, the size of the shadow economy in Ukraine reached UAH1.1 trillion ($0.042 trillion)

The statistics was provided by the international association of certified accountants (ACCA), ZN,UA writes Oct. 29.

Ukraine’s GDP in the same year stood at UAH2.38 tn ($0.092 trillion) and budget revenue at UAH595 bn ($22.9 bn).

For the share of the shadow economy, Ukraine was outstripped by Nigeria (48.37%) and Azerbaijan (67%).

Despite the massive legislation adopted in 2017 to de-shadow the economy, numerous round tables, forums and action plans no headway has been reached, ZN writes.

Earlier, Minister for Social Policy Andrij Reva said 7 million Ukrainians work in the shadow economy and do not make payments into the pension fund.

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2019-06-17 22:28 :02