Russia's shadow economy is 13% of GDP

RUSSIA / FSU POLITICS - In Brief 29 Aug 2019 by Alex Teddy
An analysis of official data on August 28 concluded that 13% of Russia's GDP is made up of the shadow economy. The shadow economy consists of unofficial salaries, peer to peer sales and other informal economic activities. This is not about crime. The analysis was performed by RBK one of Russia's most credible business newspapers. This 13% figure is lower than it was in 2015. Since 2017 it is estimated that USD 175 billion has been generated in the informal economy. The sectors of the economy with a relatively high level of unreported economic activity are real estate, construction, agriculture and commerce. People like to keep these earning informal to avoid tax regulation.

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