Analytics, Construction, Latvia, Legislation, Real Estate, Shadow economy

International Internet Magazine. Baltic States news & analytics Tuesday, 21.08.2018, 01:07

Shadow economy in construction sector has decreased in Latvia

BC, Riga, 14.05.2018.Print version
Shadow economy in Latvia’s construction sector has decreased, said Citadele bank’s spokeswoman Baiba Abelniece, citing the latest Citadele Index, informs LETA.

She said that a year ago business representatives working in the construction sector pointed at a large share of shadow economy in construction, then this year just 12% said that the share of shadow economy in the construction sector is rather large. 37% of the sector members believe that shadow economy in the construction sector is shrinking, and there were no respondents who would think it is increasing.


According to Citadele Index, the biggest share of shadow economy (32%) was reported by members of the trade sector.


Also, 13% of business representatives believe that there is no shadow economy in their sector at all, and 53% said that the share of shadow economy is small or very small. At the same time, 24% believe that the share of shadow economy is large. 31% believe that the shadow economy is decreasing, 8% think it is increasing, and 42% believe there are no changes in this respect.


The Citadele Index is based on a survey of 750 company owners and business executives, representing firms of different sizes doing business in different industries. The index is published quarterly since 2004. SKDS pollster carries out the survey for Citadele Bank.






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