Black market to increase GDP by less than 1%

Poland’s GDP is estimated to grow by less than one percent after including into it the income of the black market, i.e. smuggling, prostitution and drug-dealing, Dziennik Gazeta Prawna reported Wednesday. Less than one percent of GDP indicates an annual amount of PLN 16 billion, with Poland’s total GDP of PLN 1.69 trillion. The inclusion of the black market income into the GDP may be positive news for the Polish government which plans to decrease the budget deficit to less than three percent as of 2015,  according to economists quoted by the daily. The obligation to include black market income into the GDP was imposed by the EU. Uniform calculations would simplify the assessment of each member state’s membership contributions to the EU, in accordance with new ESA 2010 accounting rules.