Ministry for Development of Economy, Trade and Agriculture says the share of the shadow economy in 2019 fell by 3% against 2018, from 31% to 28% of the country’s official GDP.
The figures are mentioned in the report titled “General Trends of the Shadow Economy in Ukraine”, which was posted on the ministry’s website.
The ministry stresses there are still factors that hamper de-shadowing, namely: insufficient safeguards for property rights, an imperfect judicial system, a high level of corruption, financial stability challenges, as well as the presence of uncontrolled, Russia-occupied areas inside the country. (UNIAN/Business World Magazine)