МАКРОЕКОНОМСКИТЕ И ФИНАНСИСКИТЕ АСПЕКТИ НА `СИВАТА` ЕКОНОМИЈАВО РЕПУБЛИКА МАКЕДОНИЈА
MACROECONOMIC AND FINANCIAL ASPECTS OF "GRAY ECONOMY" IN THE REPUBLIC OF MACEDONIA

Summary/Abstract: There is a wide spread opinion in The Republic of Macedonia that “grey” economy is pretty high. According to some estimations it amounts between 40% and 50 % of GDP. Such high “grey” economy has a direct influence to the main economic indicators, categories and instruments for macroeconomic regulation: GDP value can not be precisely measured, there are problems in formulating and realization of macroeconomic policy instruments (fiscal policy, monetary policy, social policy, foreign-trade policy) etc. There are different reasons that cause and stimulate “grey” economy. The strongest influence comes from the high unemployment in the country. Other important reasons are high tax burdens, confusing legal decisions, great administrative business regulation, intensive private business sector development etc. Because of its high value, “grey” economy is challenging and serious danger for macroeconomic planning and regulation. That is why main recommendation of this text is directed towards activities and measures of the authorities for preventing and removing the reasons of “grey” economy appearance and punishing the consequences of this national economy “evil”. Another recommendation is for the Government to increase the speed for redefining (changing) its role on the market. Although there are noticeable signs (during the last two years) that the situation has been changing, there is a need for widening the awareness of all business players for the need of respecting the regularity and playing according the rules as well as for enforcing the institutional framework, legal order, moral values and the motivators of the country’s functional economy.

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