The black economy is still strong in Eastern Europe

The turnover of the black economy in the Czech Republic in 2014 was about 612 billion crowns, ten billion more than in 2013 – the Visa financial group’s study reveals. The study was published on Friday in Prague.

According to the study of Visa reports the turnover of the black market is 15.4 percent of the Czech gross domestic product, which is lower than the 18.5 percent European average.

The study found that the black market is most commonly widespread in Eastern Europe: the share of black economy in the GDP is 31 percent in Bulgaria, 28 percent in Romania, Croatia, Lithuania and Estonia, 24 percent in Poland, 22 percent in Hungary and 15 percent in Slovakia. (Kokes János, MTI)