STUDY: BULGARIA HAS THE LARGEST GREY ECONOMY IN THE EU
With 31.2% of the GDP, equivalent to EUR 12.8 billion, the informal sector among the European Union countries is the largest in Bulgaria, according to the figures of the international consulting company "AT Kearney", Standart daily reports.
The share of the informal economy in Romania in 2013 was about 28.4% of its GDP , equivalent to EUR 39.5 billion - almost as much as the entire economy of Bulgaria, which reached EUR 41.2 billion, Romanian newspaper Adevarul wrote.
At face value , the share of the shadow economy in Romania has increased compared to the EUR 38.3 billion recorded in 2012, although the percentage has fallen to 28.4 % from 29.1% in 2012.
Croatia has the same ratio of grey economy as that of Romania, the study shows.
With 7.1%, equivalent to EUR 36 billion, the smallest share of gray economy was recorded in Switzerland, equivalent to 36 billion.
