The International Monetary Fund on the Levels of the Grey Market. Bulgaria Almost as bad as Africa.

According to a report of the International Monetary Fund on the levels of the grey market, Bulgaria is among the EU leaders in this field. The report presents the mean values of the grey economy for the period 1991 - 2015, as well as other statistical data. 

Bulgaria's mean grey market percentage is 29,17% for the 24 years period. The range is 14,47% with the highest recorded value being 35,5% and the lowest - 20,83%. The country's high levels of grey market economy come close to those in Romania, which has an average of 30,14% for the aforementioned timeframe. Out of the non-EU European states - Russia is a firm leader with 38,42% of its economy being in the grey market. 

However, comparing Bulgaria to the rest of the world is also not quite comforting. The levels of the grey sector are comparable with those in African countries and Pakistan. For 2017 Bulgaria is a leader among 31 European economies with 29,6% grey market. The shameful statistics is shared by some of Bulgaria's neighbors like Turkey (27,2%) and Romania (26,3%). The countries with the least amount of grey economy are Switzerland, Luxembourg, and Austria. 

 

Vasil Manev

Vasil Manev is a student in Computer Science and an aspiring columnist, studying in Heidelberg, Germany.

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