About a third of the Ukrainian gross domestic product originates from shadow, President Viktor Yushchenko told a meeting on contraband and illegal economy, Ukrinform reported.

"31.1% of GDP is produced in shadow, or even up to 50% under the World Bank estimates," the President says.

In his words, this situation causes an annual loss of UAH 90 billion on the national budget. Yushchenko urged the Security Service of Ukraine, the Prosecutor General's Office and the National Bank to take immediate measures and legalize the domestic economy.

"The chain of corruption stretches out to the top echelons of power. I am calling on the security service, the prosecutor general's office and the central bank to take the positions of national interests," the President said.


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