Share of Grey Economy in Bulgaria Falls 6.0 Pct Pts in Two Yrs

Share of Grey Economy in Bulgaria Falls 6.0 Pct Pts in Two Yrs

The relative share of grey economy in Bulgaria has decreased by 6.0 percentage points to 36.8% in the last two years, a survey showed.

The shadow economy has declined from 48.6% in 2010 to 41.3% in 2012, state-run Bulgarian News Agency (BTA) reported, quoting data from a survey conducted by Bulgarian Industrial Capital Association (BICA).

The sectors in which grey practices have become most pronounced are electrical engineering and electronics, perfumery and cosmetics, and polygraphy, replacing construction, tourism and healthcare from the top spots.

The survey respondents said the introduction of restrictions on cash payments exceeding 15,000 levs ($9,800/7,700 euro) among the most effective measures against shadow practices, alongside joint checks of the Labour Inspectorate and the National Revenue Agency.

Previous Next
Test Caption
Test Description goes like this
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.