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The level of the shadow economy in Azerbaijan varies between 8.3-9% of GDP, TURAN reported. Calculations of international financial institutions are more impressive.

In 2019, a level of unaccounted economy rose by 0.1% as compared to the previous year amounting to 8.3%. Since 2015 (9%), it has declined by 0.7%, the State Statistics Committee told Turan.

The SCC gave no answer to Turan’s question about the level of the shadow economy by business areas as referring that this is not included in the list of indices in question.
The government believes that the simplification of the taxation system in the non-oil private sector, as well as the expansion of non-cash payments has led to a decrease in the shadow economy. Illustrative example is rise in 84, 000 labor contracts in the private sector in 2020.
According to the research by the International Association of Chartered Certified Accountants (ACCA), a level of the shadow economy in Azerbaijan in 2016 amounted to 67% of GDP.