The share of the shadow economy in creating this year's GDP may reach approx. 19%.
23:54
The share of the shadow economy in the creation of GDP in 2022 may amount to almost 19 percent, i.e. PLN 590 billion, the Institute of Economic Forecasting and Analyzes (IPAG) estimates in the report. It has been pointed out that the development of the shadow economy is favored by, inter alia, high inflation and the unpredictable consequences of the war in Ukraine.
The expansion of the shadow economy from 2020 onwards is mainly driven by the pandemic-induced downturn in many activities.
At the same time, the authors of the report emphasized that in the first quarter of 2022, threats of previously inexperienced size and scope appeared in the Polish economy and its international environment – Russia's invasion of Ukraine and the sanctions imposed on Russia "seriously undermined the future of economic relations in Europe".
"It should be taken into account that in the event of unfavorable developments, the share of the shadow economy may increase to 19.4 percent of GDP," IPAG assessed.
(PAP)
