Finance minister describes shadow economy in Azerbaijan
Azerbaijan, Baku, November 12 / Trend , I.Khalilova /
In Azerbaijan, the specific weight of shadow economy and informal economic activities in the GDP makes up 10.2 percent, Finance Minister Samir Sharifov said during discussions on the draft 2010 Public budget at the Parliament.
"In the calculation of the shadow economy, are taken into account the evasion of tax payments and payments on compulsory social insurance, which result from economic activities of physical entities without registration," said the minister.
As informal activities, the minister described the production of goods and services without registration of legal rights for this activity. The shadow economy and informal economic activities are calculated by the statistical and economic authorities of the country.
As a result of 2009, the government expects the country's GDP production to total $30.7 billion with an increase of 12.9 percent.