Share of Ukraine’s shadow economy declines to 33% of GDP in 2017

Share of Ukraine’s shadow economy declines to 33% of GDP in 2017

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Ukrinform
The share of Ukraine’s shadow economy in 2017 declined to 33% of GDP.

Deputy Economic Development and Trade Minister Mykhailo Titarchuk stated this in an interview with Ukrinform.

“In 2012, the share of [Ukraine’s] shadow economy totaled 45% of official GDP, while in 2017 – it reached 33%. This means that every year our share of the economy ‘in shade’ decreases. We see the positive dynamics resulting from reforms, which improves the conditions for doing business and should contribute to economic growth," the deputy minister said.

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