Bulgaria's Grey Economy Reaches Up to 30% - Study

Bulgaria's Grey Economy Reaches Up to 30% - Study

20-30% of Bulgaria's economy is in the shadowy sector known as grey economy, according to a study revealed Thursday by the economics unit of the Bulgarian NGO Center for the Study of Democracy.

According to the research, the fields most affected by grey economy are construction, retail, the restaurant business, fuel trade and healthcare.

Researchers have commented that among the most frequent reasons for carrying shady activities are tax and social security policies, as well as regulatory requirements for quality.

Another interesting fact revealed in the study is that representatives of a given business branch as a rule underestimate the level of grey economy within their branch and to overestimate it elsewhere.

On a more alarming note, the study has revealed that there are some unemployed 250,000 persons in Bulgaria who cannot specify why exactly they do not work, which suggest some of them may be engaged in shady or illegal activities. (Source: Sofia News Agency)

Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.