Shadow economy 24% in Bulgaria, says Social Affairs Minister

Bulgarians, especially young people, need to understand that it is essential to have an employment contract to protect their labour rights, Labour and Social Policy Minister Borislav Gutsanov said in Varna.

He noted that the informal economy in Bulgaria accounts for about 23-24% of the economy, which is worrying. "A quarter of our workforce without employment contracts is outrageous. Those people who do not have employment contracts do not have the rights they need," Gutsanov stressed.

Following his order, massive inspections were launched in the companies, and in three months, almost 30,000 euro worth of documents were issued.