Greece's shadow economy at 25% and growing-study


Greece's shadow economy has been growing in recent years, despite figures showing the opposite, with 25% of gross domestic product falling below the government's radar, according to a study put together by the University of Macedonia.

Following a survey of 15,000 people, the university found that the most common reason cited by Greeks for failing to declare business or work activities to the state is the lack of a feeling that the money will be property spent and a sense of injustice.

Out of Greece's 1.1 million unemployed, seven in ten have worked in the shadow -or black - economy, the study found.

#shadoweconomy #UniversityofMacedonia

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