Latvia has the highest shadow economy proportion among EU member states :: The Baltic Course | Baltic States news & analytics

Latvia has the highest shadow economy proportion among EU member states :: The Baltic Course | Baltic States news & analytics

The proportion of shadow economy in Latvia is larger than the world's average, and it is the highest among the European Union member states, according to the World Bank's latest study of shadow economy in the world from 1999 to 2007.

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The WB study, which analyzes shadow economy levels in 151 countries, says that the shadow economy in Latvia is worth 41.6% of the gross domestic product. Latvia is ranked 109th in the report, informs LETA.



The figure in Estonia is 40.3%, and in Lithuania – 31.9% of GDP.