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On March 23, 2022, within an online seminar, Prof. Dr. Stefan Petranov presented the results of the research project "Application of the monetary method for estimating the size of the informal economy in Bulgaria", implemented by a team to the Department of Economics at the Faculty of Economics and Business Administration.

During the seminar Prof. Petranov considered what the gray economy is and what are its positive and negative aspects as a phenomenon, presented estimates of the scale of the grey economy worldwide and the methodology for analysis and evaluation of its size in Bulgaria between 2016 and 2019.

The main conclusions were focused on the declining share of the gray economy in Bulgaria in recent years, which was justified in terms of measures of economic governance in the country and global trends. The results of the research will be published in the Journal of Economic Research of the Institute for Economic Research of the Bulgarian Academy of Sciences.


The subsequent discussion commented on interesting issues related to the speed of money circulation in the official and gray economy and the impact of illegal money transactions on the dynamics of the grey economy. The online seminar can be followed at the following link: https://bit.ly/shadow-economy-seminar


On April 13, 2022, the Department of Economics organized a second online seminar on the research of the informal economy, which will be further announced.