Role of Shadow Economy Weakening in Poland
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The shadow economy in Poland is projected to decrease slightly this year, making up 18.5% of gross domestic product, or PLN 756 billion (EUR 174.5 billion), according to the Institute of Economic Forecasting and Analysis (IPAG).
This is a slight reduction from 18.9% of GDP in 2023. IPAG attributes the decrease to an improved economic outlook in 2024, with an estimated 3% growth rate and inflation at 4.5%.
Higher minimum wages and an influx of EU funds from the National Reconstruction Plan (KPO) are expected to increase demand for small businesses and encourage a shift towards legal operations.
The growth of cashless transactions also plays a role in reducing the shadow economy and enhancing economic efficiency.
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