Shadow economy legalized in Ukraine

Judging by the indicators of the second quarter, “the country begins gradually recovering,” ex-minister of finance Viktor Pynzenyk said in a TV Channel 5 interview, adding “Ukraine is in 2003 now - it was pushed five years back."

Beside that, he emphasized, Ukraine has a “legal shadow economy.” “We have a legalized shadow economy - the economy allowed not to pay taxes by different parliamentary decisions through special taxation mechanisms,” the ex-minister noted. At the same time, he says that the indexes of decline in the fourth quarter will be much lower than in the first and second.