Ukraine’s shadow economy declines in H1 2018

Ukraine’s shadow economy declines in H1 2018

The share of Ukraine’s shadow economy totaled 32% of GDP in the first half of 2018, which is 3 percentage points less compared with the corresponding period in 2017, the press service of the Economic Development Ministry reports.

“According to the data of the Economic Development Ministry, the share of shadow economy in the first half of 2018 totaled 32% of official GDP, which is 3 percentage points less compared with the same period in 2017,” reads the report.

According to the ministry, the shadow economy in Ukraine declined due to maintaining macroeconomic stability, creating favorable conditions for doing business in Ukraine and preserving the tendency towards economic growth in the conditions of accelerated growth of investments into the Ukrainian economy by domestic companies, growth of consumer demand of the population, including the reform in the sphere of remuneration of labour and favorable external environment.

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