Measures to reduce Romania's gray economy by 9.9%

The Romanian gray economy's share in the GDP could be reduced by 9.9% from 28.4% in seven years if a set of ten measures is applied, such as limiting cash payments for wages, paying the social support through prepaid cards or organising tax lotteries, according to audit firm PwC. "Applying the ten measures would bring EUR 14 billion within seven years, with an impact on economic development," said Bogdan Belciu, PwC Romania partner. Cash payments represent a contributing factor to the gray economy, as they are impossible to track down in terms of purchases and sales reporting or labor remuneration. editor@romania-insider.com