Half of Belarusian Economy is in Shadow, World Bank

22.07.2010 10:39
Архив Редакция

The World Bank experts analyzed the situation with shadow turnover in economy of 151 countries around the world in the period from 1999 to 2007. The authors of the report came to the conclusion that the illegal business in Belarus is equal to 49.8% of GDP, and it occupies136th place on this parameter.

The highest level of shadow economy, according to the WB data, is observed in Georgia, where this rate is 68.8% of GDP. Bolivia and Azerbaijan are at the second and third place (68.1% and 63.3% of GDP respectively), Gazeta.ru informs.

The lowest level of shadow economy is observed in Sweden — 8.6% of GDP, in the USA — 8.8% of GDP, in Austria — 9.8% of GDP.

Among Belarus’ neighbors, the worst situation is in Ukraine (54.9% of GDP and 145th place). In Latvia, the level of shadow economy amounts to 41.6% of GDP (109th in the ranking), and 31.9% of GDP in Lithuania (64th place).

In general, the level of shadow economy in the world is increasing, World Bank experts note: if in 1997 it amounted to 32.9% of GDP, in 2007 it already increased to 35.5% of GDP. However, the decrease of illegal business share is recorded only in 11 countries.