Czech Republic -Crisis ‘a hot bed for the grey economy’ -May 13, 2013

The turnover of the shadow economy has increased to 16% of gross domestic product (GDP), was reported in a study of the credit card company Visa. The report The Shadow Economy in Europe said that the share of the shadow economy in the Czech Republic is lower than Europe's average of 18.5% of GDP. It is however twice as high compared to the rate in neighbouring Austria. A Visa spokesperson said that a major decline in economic activity builds a hotbed for the grey economy as unemployment is rising and people are uncertain about their future.

English: http://praguemonitor.com/2013/05/13 ...

http://www.visaeurope.com/en/about_us/industry_insights.aspx

 

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.


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