IMF: 45% of the Ukrainian economy is in shadow

Almost half of the Ukrainian economy. in the shadow. Photo: Politeka

The IMF estimated the approximate volume of the Ukrainian economy, which is in the informal sector, that is, pays no taxes and has no connection with the crime. The figure is 44.8 per cent.

The researchers took the period from 1991 to 2015. The volume of the shadow economy is not always increased. So from the year of independence and 1998, this percentage increased steadily to 38,96%, but from 1998 to 2008, dropped to 36,65%. From 2009 to 2015 figure began to rise with fluctuations ranging from 39,2% to 43,5%, the “Economic truth” with reference to the report of economist Leandro Medina from the African Department of the IMF and Friedrich Schneider from the University of Kepler (Linz).

In 2015, the shadow economy was estimated at 43.5%, and for the current year, despite the proclaimed authority of “combating corruption” increased to 44.8%.

For developed countries the average of the shadow economy ranges from 7% to 15% of GDP.