Level of Ukraine's black economy exceeds indicators of African countries

The IMF estimated the size of the black sector in the structure of the Ukrainian economy. It exceeded the indicators of some African countries. The corresponding report is published on the organization's website.

According to the report of the expert from the African Department of the IMF Leandro Medina and Friedrich Schneider of the University of Kepler (Linz), the average size of the black economy of Ukraine is 44.8% of GDP. This level exceeds the performance of such African countries as Guinea, Niger, Senegal, Togo and many others. At the same time in such developed countries as the Netherlands, Singapore, USA, Switzerland and Japan, this indicator ranges from 7 to 15%.

Experts analyzed data from the "non-observed" sectors of the economy, including GDP production, related to criminal activities, household production for own needs, and a legitimate economy that cannot be statistically calculated.

The study provides data for the period from 1991 to 2015. Since 1991, when the black economy was 38.9% of GDP, the level of this sector grew until 1998, when it reached a peak of 57%. Then, until 2008, the indicator gradually decreased, but with the onset of the financial crisis, there was a financial "rebound", in connection with which the black sector was from 39.2 to 43.5% of GDP.

DONi News Agency