Informal Employment Causes Losses Of EUR2.7 Bln/Year To Romania's Budget

05.28.2012 By Adelina Mihai

One year after the entry into force of Romania’s new Labor Code, the economy has recovered only 100,000 jobs of more than 650,000 it had lost during the crisis. However, one in three Romanians is informally employed and the budget hole caused by unpaid taxes and social security contributions is rising to more than EUR2.7 billion a year, according to ZF estimates.

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Keywords:
GOVERNMENT
, INFORMAL EMPLOYMENT
, TAX EVASION