Level of shadow economy in Ukraine fell by four percentage points in Q1 2018

Level of shadow economy in Ukraine fell by four percentage points in Q1 2018

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Ukrinform
In the first quarter of 2018, the level of shadow economy in Ukraine amounted to 33% of GDP, falling by 4 percentage points compared to the first quarter of last year.

"In the first quarter of 2018, the level of shadow economy was 33% of the official GDP, which is 4 percentage points less than in the same period in 2017," the press service of the Ministry of Economic Development and Trade reported.

The de-shadowing of the economy became possible due to the preservation of macroeconomic stability and positive economic trends under the implementation of policies aimed at expanding domestic demand, which was facilitated, among other things, by increased incomes of the population.

At the same time, this process is restrained by unresolved issues, including significant challenges to the financial system stability, the availability of the territories not controlled by the authorities, the report says.

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