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Policy brief

Policy Brief No. 64: Hidden Economy in Bulgaria: 2015 – 2016

In Bulgaria the high level of hidden economy undermines the economic development of the country and requires serious and persistent political attention. The unprecedented growth in the field of digitization of economic activities, the convergence between some of them, and the emergence of brand new services creates an opportunity for achieving a desirable environment, which may reduce the hidden cash flows and boost the economic development of the country. Comprehensive reforms focused on the functioning of the market mechanisms and administrative effectiveness are needed in order to promote the process of economic convergence within the European Union and limit the harmful effects of the hidden economy in Bulgaria.

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