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

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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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… the last time [a] decline in the shadow economy in Ukraine was registered [was] in 2011 from 38% to 34% of GDP, being followed by a year of stability, and then [it] began to rise: in 2013 to 35%, in 2014 to 41% …. +++

At the same time, economic growth in 2012 slowed to 0.2%, in 2013 to zero, in 2014 the economy fell by 6.8%, while in the first quarter of 2015 by 17.2%.

click here for Interfax-Ukraine: “Ukrainian shadow economy reaches 47% of GDP in Q1, 2015 – Economy Ministry”