Shadow economy level in Ukraine reduces to 32% during 2018

Source : 112 Ukraine

This is the lowest level over the last 10 years
22:18, 11 February 2019

112 Agency

The level of the shadow economy made 32% from the official GDP in January-September of 2018, which is by one point less than during the same period in 2017. Ukraine's Ministry of Economic Development and Trade reported that.

It was noted that 32% is the lowest level over 10 years, in comparison to the results of previous years, taking into account every nine months of every year. “Such a level of the de-shadowing can be regarded as the efficiency criterion of the new reforms implementation and their acceptance by the society,” the Ministry stated.

Related: Shadow economy: Disaster or source of survival for population?

At the same time, the dynamic of the de-shadowing is hampered by the issues, which negatively affect economic development in general. In particular, these are challenges due to the presence of territories beyond authorities’ control, which emerged during the armed aggression in Eastern Ukraine.

Earlier, according to the results of the first quarter of 2018, the level of the shadow economy in Ukraine was 33 USD from the official GDP, and in 2012 the level made 45% from GDP.

In June 2018, Ukraine’s Prime Minister Volodymyr Groysman stated that 1,2 – 1,8 billion USD remain in the shadow. The Government expected to take 3,6 billion USD out of the shadow.

Related: 37% of Ukrainian economy in shadow, - Ministry of Economic Development

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