Tag: IES

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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Informal economy should exceed R $ 830 billion in 2014, estimates FGV

GRAPHIC G1Value represents 16,3% of the country's GDP, according to a survey. 
Entities see greater slowness in reducing informality.

The share of production of goods and services not reported to the government, which is outside the national gross domestic product (GDP) - as in the informal market - should reach the mark of R $ 833,9 billion this year, according to the estimate of the Brazilian Institute of Competitive Ethics (ETCO), together with the Brazilian Institute of Economics of the Getulio Vargas Foundation (FGV / IBRE), through the Underground Economy Index (IES).

The value represents 16,2% of the country's GDP - almost stable in relation to the 16,3% share that the underground economy represented in the GDP of 2013. According to the entities, the result indicates a tendency towards slowing down the reduction of informality .

Source: G1.globo.com | 12/11

 

 

Informal economy in Brazil should move more than Israel's GDP

IESEconomic activities that are not reported to the government are expected to generate R $ 830 billion in 2014, more than Israel's GDP (Gross Domestic Product) last year, which was equivalent to about R $ 742 billion.

The Underground Economy Index was released this Tuesday (12th) by the Brazilian Institute of Competition Ethics (ETCO) and by the Brazilian Institute of Economics of the Getulio Vargas Foundation (FGV-Ibre).

In addition to the informal market, the indicator calculates everything that moves in the country, but is not officially reported to the government. For example, a factory that produces 100 pairs of shoes and declares only 90 to the government collaborates with 10 pairs for the so-called “underground” economy.

This R $ 830 billion represents 16,2% of the Brazilian GDP, a deceleration of 0,1 percentage point in relation to the proportion of last year (16,3%).

Source: Uol (economy) - 12/11/2014

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