Poor economic situation causes shadow economy to continue increase.

These are the most important findings of a new forecast of the shadow economy in published jointly by Professor Friedrich Schneider (University of Linz) and the Institute for the Institute for Applied Economic Research (IAW).

The forecast is based on an assumed negative GDP growth rate of 0.4 % and an unemployment rate of and an unemployment rate of 2.9 million. Furthermore, an expected inflation rate
rate of 2.2 per cent is also included in the calculations.

Contact persons:

Prof. Dr. Friedrich Schneider Tel.: +43 664 3085228 E-Mail: friedrich.schneider@jku.at

Prof. Dr. Bernhard Boockmann Tel.: +49 (0)7071 9896-20 E-Mail: bernhard.boockmann@iaw.edu