The grey economy slows down the economic growth of the country

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In order to reduce the level of grey economy, and especially illegal trade, as its largest manifestation, Serbia needs to improve the efficiency of the judicial system, strengthen the institutions for monitoring and prevent corruption and money laundering and curb the growth of illegal online trade.

These are, with closer cooperation with the private sector, the priority conclusions and recommendations of the conference “Illegal Trade – International and Local Perspective” organized by the AmCham. According to the survey, the Economist Intelligence Unit, conducted by The Economist Intelligence Unit, Serbia ranks 57th out of 84 countries in four categories: policies and laws that prevent illicit trafficking, corruption, money laundering and intellectual property protection, institutions that laws enforce and report to the public, a tax policy that does not encourage illegal trafficking and a customs policy that effectively fulfills its mandate to facilitate trade in legal as well as prevent illegal trafficking. According to the research of the Quarterly Monitor, a publication of the Faculty of Economics in Belgrade, in 2013 and 2014 there was a significant increase in the gray economy in Serbia, while from 2015 this trend has been reversed.

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