Level of shadow economy decreased to 35% - Economy Ministry

The report says the process of bring the economy out of the shadow became possible due to factors such as relative macroeconomic stability; business climate improvement as a result of compliance with the policy of deregulation and optimization of public sector functioning aimed at raising its efficiency, the renewal and development of new cross-industry connections in the economy. "At the same time, the process is restrained by problems, the solution of which has a negative impact on the indicators of country´s economy development as a whole. In particular, these are unfavourable foreign economic situation; the implementation of Russian trade and transit restrictions, financial risks in the context of the ongoing bank failures and shortfalls in credit funds from the IMF, and existence of uncontrolled territories,” reads the report.