Russia's shadow economy 16% of GDP - head of Statistics Service
MOSCOW, April 1 (RIA Novosti) - Russia's 'gray", or semi-legal economy amounts to 16% of the country's gross domestic product, Statistics Service head Alexander Surinov said on Friday.
"The hidden economy now stands at about 16% of GDP. That figure does not include illegal activities, such as prostitution, drug trade, pornography and pirate goods," Surinov said.
The shadow economy includes companies' undisclosed operations, the informal sector and households' production for its own consumption. It also includes informal and hidden wages, Surinov explained.
"Current data show that some 13 million people, or 17-18% of the economically active population, are employed there," he said.
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