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).
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.