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Study: Over 20% of Bulgaria's economy is in the informal sector

Prof. Stefan Petranov
Photo: bica-bg.org

Grey economy accounts for 1/5 of Bulgaria's GDP, according to a study by the Bulgarian Industrial Capital Association and the National Centre "Economy in the Clear". 


Still, since 2010, the share of the regulated economy has increased by 15%, from 63.35% to 78.40%. Despite this positive trend, the informal sector in Bulgaria has a higher rate than in any other EU country. 


"We have seen a significant improvement - the number of employment contracts where employees are insured on minimum wage while in reality they receive more, has decreased, , says the author of the study Stefan Petranov. The sectors most affected by the informal economy are services, hotels, restaurants, construction and agriculture. 

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