KIEV, July 3 - The share of shadow economy in Ukraine dropped to 34% of GDP in 2016, down by 6 percentage points, the Ministry of Economic Development and Trade REPORTED.

"All four methods, which are used to assess the level of the shadow economy, showed a decrease in the level compared to 2015," the ministry noted.

The shadow economy level dropped due to the consolidation of macroeconomic stability and the renewal of economic growth, improvement of the business climate due to deregulation, legalization of the labor market due to a lower social security tax.