The share of the shadow economy was 28% of the country's official GDP / Photo from zn.ua
Its share was 28% of the country's official GDP.
Ukraine's Ministry for Development of Economy, Trade and Agriculture says the share of the shadow economy in the country in 2019 fell by 3 percentage points (p.p.) against 2018, from 31% to 28% of the country's official GDP.
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The figures are mentioned in the report titled: "General Trends of the Shadow Economy in Ukraine," which was posted on the ministry's website.
The ministry stresses there are still factors that hamper de-shadowing, namely: insufficient safeguards for property rights, an imperfect judicial system, a high level of corruption, financial stability challenges, as well as the presence of uncontrolled, Russia-occupied areas inside the country.
As UNIAN reported earlier, Ukraine's shadow economy in 2018 accounted for 31% of the official GDP, which was 1 p.p. down from 2017.