The Italian informal economy has almost the same volume as Portugal

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The Italian informal economy has almost the same volume as Portugal







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The statistics agency of Italy, State, revealed this Wednesday that the informal economy of that country in 2018, the last year with available data, represented about 211 billion euros (US $ 248 billion).


Portugal-Sized Economy


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Portugal-Sized Economy


The total is 1.3% lower than the previous year, bringing the undeclared part of Italy’s gross domestic product to 11.9%. The peak was 13% in 2014.

The prime minister’s government Giuseppe Conte is working on a new measure to try to further regularize the country’s economy discouraging the use of cash. The plan would reimburse 10% of card payment transactions, returning a maximum of 300 euros (US $ 354) per person, while allowing citizens to participate in a lottery associated with a 300 million euros prize.

More than 3.6 million people evade taxes, mainly concentrated in areas such as transportation and gastronomy, according to officials.

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