Economic Development Ministry reports on a significant reduction in shadow economy

Economic Development Ministry reports on a significant reduction in shadow economy

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Ukrinform
Shadow economy in Ukraine totaled 35% of GDP in the first half of 2017, which is 3 percentage points lower than in the same period in 2016.

Vice Prime Minister – Minister for Economic Development and Trade Stepan Kubiv said this during a conference of Fitch Ratings international rating agency in Kyiv on November 30, an Ukrinform correspondent reports.

“There was a significant reduction in shadow economy from 38% of GDP in the first half of 2016 to 35% in the first half of 2017,” Kubiv said.

He also said that investment attractiveness of Ukraine is also improving, as is evidenced by credit ratings of international rating agencies.

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