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Bulgaria reached a European first in informal economy

The gray economy in Bulgaria grew by 3.4% on average, with the lowest increase of 0.1% recorded in 2008 and the highest rate of 5.1% being noted in 2010 and since then to recede. These data are presented in a report released today by the Bulgarian Industrial Chamber. The report is based on statistics of the Bulgarian statistical office, as stated Chamber President Bozidar Danev, at a press conference.

Bulgarian economy

Bulgarian economy

According to the latest report of the European Union in the employment, in 2013 the share of the gray economy in Bulgaria accounted for 31.2%, giving Bulgaria the primacy in the EU in this field. The extent of the effect is greater in construction, trade and tourism, according to the BIA. Between 2008 and 2012, unpaid taxes in nominal terms exceeded 12.4 billion leva, the report says.

Bulgarian economy

Bulgarian economy

According to Mr. Danev, probably 12 billion leva placed on influence peddling and create conditions off-market in the country. To address the problem, Chamber proposes to introduce new regulations in force in the EU on the yield of VAT and more simplified procedures in medical payments and social security.

By Nicole P.

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