Nearly 80% of Bulgaria’s bread makers and confectioners operate within the shadowy grey sector of the country’s economy.
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Ventsislav Atanassov, the head of the branch association, told local newspaper Trud yesterday [Wednesday] that many small and medium-sized enterprises operate in the grey economy
It is up to the Bulgarian government to deal with this economy, he said, but it is unwilling to do so because it keeps bread prices low and enables the authorities to meet the pledges of their social programmes.
According to The Economist’s country briefings, there is “a thriving but unrecorded grey economy” in Bulgaria as the recovery of the agricultural and industrial sectors from post-communist recession has been slow: “Some estimates put its share of GDP at as high as 50%, although the National Statistical Institute puts it at around 20%.”
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