Bulgaria Tops 2013 Shadow Economy Ranking in Europe - A.T. Kearney

Bulgaria Tops 2013 Shadow Economy Ranking in Europe - A.T. Kearney

The size of the shadow economy in Bulgaria, Romania and Croatia was about 30% of the official economy in 2013, which placed the three countries at the lead of a shadow economy ranking in Europe, advisory firm A.T. Kearney said.
Nevertheless, the share of the shadow economy declined in all three countries compared to the 2012 levels, according to the annual report of A.T. Kearney.
In Bulgaria, the share of the shadow economy edged down to 31.2% in 2013 from 31.9% a year earlier.
According to the findings of the report, measures focused on undeclared work tend to be unpopular, and their success depends heavily on controls, sanctions, and penalties for enforcement. In Bulgaria, a law required all employees caught working without a valid labour contract to pay a penalty equal to three monthly social security contributions, but it was ruled illegal by the Constitutional Court.

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