LT: Lithuanian shadow economy smallest in Baltic States.

By bne IntelliNews May 12, 2011
Lithuanian shadow economy is estimated to amount to 18.8% of GDP in 2010, while in Estonia it amounted to 19.4% of GDP, and in Latvia it stood at 38.1% of GDP, Stockholm School of Economics in Riga (SSE Riga) announced. In y/y terms shadow economy declined in Estonia only. In 2009 in Lithuania shadow economy amounted to 17.7% of GDP, in Estonia it amounted to 20.2% of GDP, and in Latvia shadow economy stood at 36.6% of GDP. The research has been carried out by SSE Riga professors Talis Putnins and Arnis Sauka. According to the research only Estonia slightly improved on the shadow economy. Yet, in Lithuania the companies dedicate 9.3% of their revenues for bribes, in Latvia the percentage is 10.8%, and in Estonia it is 5.6% in 2010.

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