Bulgaria's Grey Economy Reaches Up to 30% - Study

Business | October 27, 2011, Thursday // 16:29|  views

20-30% of Bulgaria's economy is in the shadowy sector known as grey economy, according to a study revealed Thursday by the economics unit of the Bulgarian NGO Center for the Study of Democracy.

According to the research, the fields most affected by grey economy are construction, retail, the restaurant business, fuel trade and healthcare.

Researchers have commented that among the most frequent reasons for carrying shady activities are tax and social security policies, as well as regulatory requirements for quality.

Another interesting fact revealed in the study is that representatives of a given business branch as a rule underestimate the level of grey economy within their branch and to overestimate it elsewhere.

On a more alarming note, the study has revealed that there are some unemployed 250,000 persons in Bulgaria who cannot specify why exactly they do not work, which suggest some of them may be engaged in shady or illegal activities.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Tags: Center for the Study of Democracy, economy, gray economy, construction, retail, restaurant, fuel, healthcare, unemployed


» Related Articles: