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Level of shadow economy in Ukraine decreased to 40% of GDP
17:09, 11 February 2016
Level of shadow economy in Ukraine decreased to 40% of GDP

The process of deshadowing Ukrainian economy in January-September 2015 was restrained by a number of unresolved problems

17:09, 11 February 2016

Фото из открытых источников

According to the document of the Ministry of Economic Development and Trade, the level of shadow economy in Ukraine over the first nine months of 2015 decreased to 40% of GDP.  

"According to the Ministry preliminary calculations, in January-September 2015 the level of shadow economy in Ukraine made 40% of official GDP, which is 1 point less compared to corresponding period of 2014," - said in a statement.

Ukrainian economy indicators have slightly improved after the period of turbulence

The ministry noted that the process of deshadowing Ukrainian economy in January-September was restrained by a number of unresolved problems: significant tax burden on the corporate sector against the high cost of attracting credit resources; unfavorable external economic environment in key export markets; a reduction in internal demand for domestic products; rising costs for imported raw materials through the devaluation of the national currency and the additional import duty; significant investment risks; complication of international relations with the country's main trading partner (Russian Federation), as a result Ukraine lost its markets.

According to the Ministry, three of the four methods of Ukrainian shadow economy evaluation showed a decrease in its level compared to the first 9 months of 2014.

Related: Ukrainian economy is fragile, but signs of recovery are already visible - IMF

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