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Economy 2019-05-15T04:35:34+03:00
Ukrainian news
Shadow Economy Rate Down 4 p.p. To 33% Of GDP In Q1

Shadow Economy Rate Down 4 p.p. To 33% Of GDP In Q1

The Economic Development and Trade Ministry states that in the first quarter of 2018, the level of shadow economy fell by 4 percentage points to 33% of the gross domestic product year over year.

The Economy Ministry has said this in a statement, Ukrainian News Agency reports.

The unshadowing of the Ukrainian economy was possible thanks to: retention of the major features of macroeconomic stability and positive economic tendencies in conditions of implementation of the policy aimed at expansion of the domestic demand inter alia increase of population's incomes and favorable external conditions.

Besides, the unshadowing was possible thanks to strengthening of the investment element of the economic growth within the ongoing reformation of the economy, retention of high level of business activity and improvement of expectations.

Real GDP in the first quarter of 2018 grew by 3.1% year over year.

As Ukrainian News Agency earlier reported, the Economic Development and Trade Ministry states that the level of the shadow economy decreased by 4 p.p. to 31% in 2017 year over year.

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