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You're reading: Economy Ministry: Level of shadow economy in Ukraine grows by 0.4% in the first quarter of 2012
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“According to initial estimates, two out of four methods for calculating the level of the shadow economy, which are used by the Economic Development and Trade Ministry, showed an increase in the level of the shadow economy in the first quarter of 2012, another one showed its level remaining unchanged, and only the monetary method showed unshadowing,” the ministry said in a study published on Monday.

The ministry said that the use of only whole numbers in assessing the level of shadowing of the national economy was linked to the fact that this figure is analytically calculated, so it is rough and impossible for verification.

At the same time, according to the schedule presented in the document, after the level of the shadow economy dropped to 33% of GDP in the second quarter of 2011 it grew in the next three quarters, but it was lower than in 2010 and 2009 – 38% of GDP and 40% of GDP respectively.

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