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Ukraine’s Black Economy Amounts to 33 Percent of Country’s GDP

  • Ukraines Black Economy Amounts to 33 Percent of Countrys GDP

KYIV (FNI) -The level of the black economy in Ukraine between January and September 2017 amounted to 33% of the total gross domestic product (GDP). In 2016 it was 36%.

"The resumption of the economy’s post-crisis stabilization processes are followed by the maintenance of moderate production growth rates in response to the expansion of both domestic and external demand, preservation of overall exchange rate stability and moderate inflation rates," Ministry of Economic Development explains the reasons of the falling level of the shadow economy in Ukraine.

In addition, the situation was positively affected by the improvement of business and population expectations and the weakening of investment risks against macroeconomic stabilization, as well as the resumption of the economic reform processes.

Ukraine took the 150th  place in the ranking of economic freedoms published by the American think tank Heritage Foundation. At the same time, Ukraine took the lowest, 44th place among the European countries.



 


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