Total of 33.2% of the gross domestic product annually belongs to the gray economy

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A total of 33.2% of the gross domestic product per year in the country belongs to the gray economy, according to the analysis of the Economic Chamber of N. Macedonia.
The percentage, according to the Chamber’s vice-president Zoran Jovanovski, is on the same level as the countries of the Western Balkans, but it is almost twice as high as the average of the member states of the European Union, which is 19.4 percent of GDP.
“Through numbers, 33.2% of GDP in 2022, the “gray part” of the Macedonian economy amounts to 4.3 billion euros, i.e. 1.3 billion euros lost revenues in the state budget. If as a country we managed to reduce ourselves to the average of the EU, with such a gray economy we would have 450 million euros more income in the budget annually,” said Jovanovski.

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