IBnGR: Poland to exit gray economy on March 12

The Institute for market economics (IBnGR) reports the gray economic zone will generate approximately 19.7 percent of GDP in 2016, compared to 19.2 percent in 2015. "The main reason for such a shift is the slowdown in economic growth in the second half of 2016," the Institute claims. According to the IBnGR's estimates, the development of electronic payment plays an important role in the fight against the gray economy. "In 2016, the day for the exit from the gray economy is March 12. After that date, production is contractually longer exclusively in the official economic exchange. The Institute plans to continue this initiative in the coming years," the IBnGR states.