The Ukrainian Parliament has announced its strategy for tackling the budget deficit. Danylo Hetmantsev, head of Committee on Finance, confirmed that there are no plans to raise taxes in 2026, and that the shortfall in the state budget will be managed through alternative sources. He no... #DanyloHetmantsev #OECD #UkraineBudget2025 #UkraineBudgetDeficit #UkraineEconomy #UkraineShadowEconomy
Analysts compare the size of Ukraine’s shadow economy with those of other countries. Prior to the full-scale war in 2021, Ukraine’s shadow economy was estimated to be around 30% of GDP. Last year, the Ministry of Economy reported that potentially 40% of the economy could take pl... #Ernst&Young #ShadowEconomy #UkraineEconomy #UkraineShadowEconomy #worldeconomy
Nearly 50% of Ukrainian retail operates in the shadows. The extent of shadow activity in Ukrainian retail trade has reached a critical level: According to various estimates, up to 45% of all retail transactions may take place outside of Ukraine’s tax... #retailUkraine #TaxesUkraine #UkraineBudget #UkraineEconomy #UkraineShadowEconomy
Retail turnover in Ukraine grew by 18%, but a third of retail revenue occurs in the shadows. According to UTG estimates, Ukraine’s 2024 retail turnover is expected to amount to ₴2.184T despite the war, which is 17.7% more than in 2023 (₴1.822T). Turnover is also growing in dollar equiva... #NAIUkraine #RetailTradeTurnover #retailUkraine #UkraineEconomy #UkraineShadowEconomy
Ukraine has introduced a new regulation of the export of grain, honey, and nuts to combat the shadow economy. The Cabinet of Ministers introduced an export support regime for operations involved with exporting certain agricultural goods during martial law in Ukraine. This regime will establish minimum export ... #agroexportukraine #agroUkraine #TarasKachka #UkraineBudget #UkraineShadowEconomy
Ukraine needs to reduce the size of its shadow economy to continue receiving help from Western partners. As FT writes, Ukrainian authorities are trying to improve the country’s financial condition by implementing several scenarios simultaneously, which can be called a mixture of debt restructuring,... #AmChamUkraine #ForeignInvestor #ReformsinUkraine #UkraineBudget #UkraineEconomy #UkraineShadowEconomy
Shadow employment costs Ukraine’s state budget UAH 100B every year. When Ukrainian employers do not declare their employment relationships and pay salaries in cash, the state budget of Ukraine loses revenue, which amounts to about UAH 100B ($2.73B) every year. “... #AndriyKharchenko #ShadowSalaries #UkraineBudget #UkraineShadowEconomy
De-shadowing brought the budget more than UAH 50B . According to Chairman of the Committee on Finance, Tax and Customs Policy Danilo Getmantsev,, the state budget received an additional UAH 14.8B from domestic taxes in December alone, or 42.6% more t... #ShadowEconomy #UkraineShadowEconomy
