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

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

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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