Tag Archives: Romania informal economy

Romanian informal economy reached 28% of GDP

Romania informal economyThe informal economy of Romania represented 28.4% of GDP in 2013, taking into account a slight decrease compared to 2011, when calculating the 30% of the GDP shows an assessment of the European Commission said in a report of the Committee of experts Council of Europe to assess measures to combat money laundering and financing of terrorism (MONEYVAL). Thus, the level of the shadow economy in 2011 was in line with losses for the country in the amount of 40 billion EUR, this amount has remained constant during 2013, whereas GDP growth.
According to estimates by the European Commission in Romania the ratio of the shadow economy in 2011 was 30% of GDP (in 2013 this proportion dropped to 28.4%), which is consistent with the loss of 40 billion EUR caused by economic abuse and tax evasion.
According to the report in 2012, the number of economic abuse was 41,820 compared to 39,124 in 2011 and 34,730 in 2008, the same time the number of fraud doubled in 2012 compared to 2008 – from 12 579 to 25 586 cases. The damage caused annually to Romania only cigarette smuggling is estimated at about 400 million EUR. The number of people smuggling charges in 2012 increased by 184% compared to 2007, reaching 879 people.