Tag: Gray Market

RUSSIALINK: “How Big Is Russia’s Shadow Economy and Why Does It Matter? The informal labor market is a window into the country’s wider economy.” – Moscow Times

Politics, Government, Protests, Elections
Hands Opening Envelope Containing Cash

(Moscow Times – themoscowtimes.com – Jake Cordell – October 29, 2019) Jake covers business & economics for The Moscow Times. The black labor market in Russia is shrinking as fewer people try to keep their work off the books and their wages away from the taxman. So said a recent survey by the Russian Presidential Academy of National Economy and […]

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Nearly 40 Percent of Russian Economy Still in Shadow Sector

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Cash, Calculator, Pen

(Paul Goble – Window on Eurasia – Staunton, July 2, 2017) According to the international Association of Chartered Certified Accountants, 39.3 percent of the Russian economy remains in the shadow sector, making Russia one of the leaders in this regard and meaning that 35.55 trillion rubles (600 billion US dollars) of economic activity there are off the books and not […]

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NEWSWATCH Interfax-Ukraine: Ukrainian shadow economy reaches 47% of GDP in Q1, 2015 – Economy Ministry.

Economy, Business, Investment, Trade, JRL NewsBlog, Ukraine, Russo-Ukrainian War
Map of Ukraine, Including Crimea, and Neighbors, Including Russia

Interfax-Ukraine covers a report indicating a rise in Ukraine’s “shadow economy,” corresponding an overall drop in Ukrainian economic output. … the shadow economy in Ukraine in the first quarter … 2015 increased … 5 percentage points compared to the corresponding period in 2014, to 47% of official GDP, the Economic Development and Trade Ministry has reported …. * * * […]

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RIA Novosti: 15-20% of Russians Work in Shadow Economy

Economy, Business, Investment, Trade
Hands Opening Envelope Containing Cash

MOSCOW, January 17 (RIA Novosti) ­ Up to a fifth of Russians work in a shadow economy that does not generate adequate tax payments, the country’s labor minister said Friday. “Fifteen to 20 percent of citizens” work jobs that do not provide proper tax and social security payments to the government, Maxim Topilin told an economic forum in Moscow. “I […]

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