A new detailed study on the #informal economy in North Macedonia reveals important insights and policy recommendations.
Key findings:
👉 Undeclared work: Constitutes about 21.1% of total labor #input, with significant presence in the #manufacturing industry and #construction sector.
👉 Income underreporting: Households underreport approximately MKD 9.7 billion, with underreporting of income from #employment at 3.7%, while income from #rent has a high rate of 70.4%.
👉 Sectoral dynamics: In the manufacturing industry, underreporting of #wages (so-called envelope wages) is more prevalent, while in construction and retail, fully undeclared #workers are more common.
👉 Targeted interventions: Recommendations include fostering #startups in low productivity sectors, offering targeted #financial aid, and improving #monitoring mechanisms to effectively tackle undeclared work and income underreporting.
Stay informed on the latest economic findings and policy recommendations to drive sustainable development and formalize the informal economy! 🌟📈 #EconomicStudy #PolicyRecommendations #InformalEconomy
For more details, read the full study: rb.gy/77jkpd! 📚