Ukraine Reduces Shadow Market Share by 25%

Sunday, September 19, 2021
Ukraine Reduces Shadow Market Share by 25%

Experts of the Ministry of economy of Ukraine report a decrease in the shadow economy by a quarter in 3 years

On September 16, 2021, a meeting of the Interdepartmental working group on the de-shadowing of the Ukrainian economy was held. The following issues were discussed:

  • Shadow economy trends;
  • The role of the financial sector in shadowing processes;
  • Counteraction to the shadowing of the tobacco industry in Ukraine.

According to the minister of economy Oleksii Lyubchenko, a three-year investing-in-ukraine/service-for-investors/strategy-development/" rel="dofollow">strategy for deshading the economy will be developed in the near future.

“The strategy of economic security of Ukraine for the period up to 2025 clearly indicates the urgent need to solve the problems of the shadow economy. Today, according to preliminary calculations of the Ministry of economy, the level of the shadow economy is 30% of the official GDP," Lyubchenko said.

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