The Hidden Economy in Bulgaria and the Global Economic Crisis
The Hidden Economy in Bulgaria and the Global Economic Crisis

Summary/Abstract: This publication makes a review of the hidden economy dynamics in Bulgaria in the past decade with a particular focus on the effects of the global economic crisis of 2008 – 2010. It discusses the impact of the crisis on the labor market and on undeclared work on the basis of the data from CSD’s Hidden Economy Monitoring System. Based on a review of the experience during the last five years in Europe and Bulgaria in designing and implementing public policies for countering the hidden economy, the publication makes some specific recommendations to the Bulgarian government on improving its record in this area. One of the main conclusions is that effective curbing of the hidden economy requires a balancing and coordination of the mix of administrative control and socio-economic measures, as well as sustained structural reforms in the compliance and control administration and law enforcement bodies.

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