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The level of the shadow economy in 2020 amounted to 30% of the volume of official gross domestic product (GDP) of Ukraine, which is 3 percentage points more than in 2019 (27%). The growth of the shadow economy was due to the coronavirus.

This was announced on its official website by the Ministry of Economy, UNIAN reported.

“Complicated economic conditions due to the introduction of anti-epidemic measures in Ukraine and the world have caused a natural desire of businesses to reduce the risk of loss of limited resources (against the background of significant growth in economic losses due to temporary but unpredictable, limited business activity), which led to the growth of the shadow economy, “the statement said.

It is noted that two of the four methods used to assess the level of the shadow economy, recorded an increase in the level compared to 2019, namely: the method of unprofitable enterprises – by 7 percentage points. (up to 27% of official GDP), the monetary method – by 1 percentage point (up to 31% of official GDP).

Two methods showed a decrease in the level of the shadow economy, namely: the method of “population expenditure-retail trade and services” – by 3 percentage points. (up to 22% of official GDP), electric method – 2 percentage points (up to 23% of official GDP).

The share of the shadow sector increased the most in FEA “real estate transactions” (by 17 percentage points, to 41% of gross value added in FEA), in FEA “Transport, warehousing, postal and courier activities” (by 14 percentage points, up to 48%), as well as in the mining industry and quarry development (9 percentage points, up to 41%) “, – said the Ministry.