FGV: underground economy has the lowest drop since 2003


The size of the underground economy - the production of goods and services not reported to the government - has shrunk this year at the lowest pace since 2003, according to a study released by the Brazilian Institute of Economics of the Getulio Vargas Foundation (FGV / Ibre) and by the Brazilian Institute of Ethics in Competition (Etco). In 2014, this sector should represent 16,2% of GDP, from 16,3% in 2013 - that is, a reduction of only 0,1 percentage point, the lowest since 2003. In developed countries, the index revolves around 10% of GDP.

Source: R7 Notícias | 12/11

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