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New Index to Gauge Bulgaria's Gray Economy

Date: 21.09.2009

A new index, which will calculate the share of the gray economy, will be developed in Bulgaria in the framework of a project under the operational program Human Resources Development.

A contract to this effect, worth BGN 8,9 M, was signed on Monday by the Employment Agency and the Industrial Capital Association to be implemented by 2013.

The gray economy accounts for 25%-40% of Bulgaria's economy, according to data, presented by the agency chair Vassil Velev.

National headquarters for combating gray economy are planned to be set up under the project. A total of 4 500 people will be trained to lead information campaigns and establish six regional units for gray economy prevention.

The contract that was signed on Monday was the first out of eight, which will be inked with social partners under the operative program.

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