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Close to 10 percent of the economy is grey

AT LEAST 7 percent of cash in Slovakia flows outside of official accounts and records, in the grey economy, the daily SME wrote. Its origin is not in crime but people choose to keep the income unofficial.

According to the Organisation for Economic Cooperation and Development, the share of the grey economy in Slovakia represents about 7.3 percent. In the Czech Republic, the portion is about 2 percent lower while in Poland it is almost 6 percent higher.

Based on data of the International Labour Organisation, 450,000 people, or 23 percent of the unemployed, work in Slovakia’s grey economy. For comparison, Macedonia recorded a slightly higher share.

Compiled by Marta Ďurianová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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