Shadow economy in Ukraine grows to 33%

The part of Ukrainian economy where paying taxes is avoided has in the first quarter of 2018 been 33%, official estimates show as reported by UNIAN.

Ukrainian news agency UNIAN reported on Thursday, August 23, citing the data of the Ukrainian Ministry of Economic Development and Trade, that in 2017, shadow economy in the country amounted to 31%.

In the first three months of this year, the ministry evaluated that positive results came due to the preservation of the main features of macroeconomic stability and positive economic trends in the context of the implementation of policies aimed at expanding domestic demand.

«At the same time, the dynamics of deshadowing is hampered by unresolved issues that negatively affect the development of the country’s economy as a whole. This, in particular, is about remaining significant challenges to the stability of the country’s financial system and the existence of territories beyond government control, shaped up amid military aggression in the country’s territory,» stated the press services of the Ukrainian Ministry of Economic Development and Trade.

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