Proportion of shadow economy in Baltic States reduces

  • 2012-05-30

RIGA - The proportion of the shadow economy in Latvia was 30.2 percent in 2011, which is 7.9 percent less than in 2010 (38.1 percent), according to Ventspils University College Vice-Rector Arnis Sauka's study into the proportions of the shadow economy in the Baltic countries last year.

In Lithuania, the proportion of the shadow economy reduced from 18.8 to 17.1percent last year, whereas in Estonia – from 19.4 to 18.9percent, reports LETA/

The results of Sauka's study were presented at a conference on the shadow economy in Latvia, organized by the Latvian Chamber of Commerce and Industry in cooperation with the Stockholm School of Economics in Riga and the Finance Ministry.