14 june 2010 10:19 35% of Ukrainian economy is in shadow
According to the Ministry of Economy, the share of shadow economy last year grew by 1 percentage points to 35% of official GDP. In absolute terms, this means that the volume of unreported GDP, created in the informal sector in 2009, amounted to almost 320 billion UAH (1 USD - 7.92 UAH), newspaper Delo reported.

"The significant increase in the informal sector was observed in the 4th quarter of 2008 and 1st quarter of 2009. During this period, the shadowing grew by almost 10 percentage points to a maximum of 39%," a statement of the Ministry of Economy reads. And the fact that during the last three quarters of 2009, the share of shadow economy declined by 4 points to 35% owes to the fact that the business adapted to work in crisis conditions, as well as to stabilization of the situation on the foreign exchange market and in banking sector.

Ura-Inform