Romania’s underground economy has been on a downward trend in recent years, reaching 13.1% of GDP in 2023 (1 percentage point above the global average), from 31.3% of GDP in 2000, 19.5% in 2013 and 15.1% in 2019, according to estimates included in a global study on the topic published by the consulting firm EY.<\/p>\n
The problem with these estimates has always been the source and quality of the information used as inputs, which is why estimates have always been questioned, said <\/a>Alex Milcev, Partner, Leader of the Tax and Legal Assistance department, EY Romania, in a company press release.<\/p>\n “Romania’s underground economy represents around one-eighth of GDP, according to the EY global study <\/a>Shadow\u00a0Economy Exposed: Estimates for the World and Policy Paths. <\/em>The good news is that its share in the total economy is decreasing from one year to the next, as part of a trend of over two decades,” Milcev said.<\/p>\n The EY study analyzed 131 countries over a 23-year period (2000-2023)<\/p>\n “In this context, the weight attributed to Romania does not look special, but, admittedly, with this level, Romania remains at the bottom of the EU ranking,” the report reads.<\/p>\n