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Average shadow economy index reaches almost 50% in Azerbaijan

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Baku, Azerbaijan, Sept. 13

By Kamala Mammadli – Trend:

The average index of the Azerbaijani shadow economy reached 49.58 percent per year from 1991 to 2018, Friedrich Schneider, professor of economics at Austria’s Johannes Kepler University, said on Sept. 13.

Schneider made the remarks in Baku at the conference entitled "Fighting the shadow economy as an important factor in the development of the economy", Trend reports.

“The index of the shadow economy decreased from 44.78 percent in 2017 to 44.23 percent in 2018,” he said. “For the current year, these indicators make up 44.6 percent.”

Schneider also added that among five neighboring countries, the lowest average level of the shadow economy was observed in Iran (18.71 percent), the highest level in Georgia (59.65 percent).

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