KIEV, July 12 (Xinhua) -- The level of the Ukrainian shadow economy in 2018 decreased by two percentage points compared with that in 2017 and amounted to 30 percent of the official GDP, which was the lowest recorded level since 2009, the Ministry of Economic Development and Trade reported on Friday.
"All the methods used to assess the level of the shadow economy showed a decrease compared to 2017," the report said.
According to the ministry, Ukraine's position in the Doing Business 2019 ranking improvement from the 76th position in 2018 to 71st position shows that the reforms to deregulate the economy are having their effect.
The growth in business expectations for the following year also contributed to positive dynamics, which grew by 17.3 percent in the fourth quarter of 2018, according to the National Bank of Ukraine.
Previously it was reported that Ukraine's shadow economy level decreased by 1 percentage point in January-September 2018 compared to the same period of the previous year and amounted to 31 percent of the national GDP.
The reforms to deregulate the Ukrainian economy were introduced in 2015 when the level of shadow economy reached 42.9 percent of the country's GDP.
