IMF Says Shadow Economy Makes Up Nearly Half of Ukraine’s GDP
Published by WarSignal Editorial · Last updated
The International Monetary Fund has reported that the shadow economy accounts for almost 50% of Ukraine’s gross domestic product.
In a statement, IMF spokesperson Julie Kozak said the fund is backing Ukrainian authorities in efforts to broaden the tax base and bring more economic activity into the formal sector.
The IMF’s findings highlight the challenges Ukraine faces in expanding its tax net amid ongoing economic pressures.
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