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Shadow economy accounts for nearly 70% of Ukraine’s economy

June 22, 2015, 13:56 UTC+3 KIEV

Only 33% of the business players in Ukraine are paying taxes, Deputy Finance Minister of Ukraine Elena Makeeva estimates

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KIEV, June 22. /TASS/. The shadow economy in Ukraine accounts for 67%, Deputy Finance Minister of Ukraine Elena Makeeva said on Monday.

"The shadow business accounted for 42% in 2014, according to data of the Ministry of Economy. It is much higher according to our estimates. You know what I am saying, 33% are paying taxes and 67 do not," Makeeva told Ukraine’s Vesti online media.

Ukraine’s Minister of Finance Natalie Jaresko said on May 29 she intends to increase taxes for oligarchs and already devised an efficient method of combating the shadow economy.

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