Germany's black economy 'accounts for 17% of GDP'

Germany's black economy is generating around €1bn a day and is producing about 17% of Germany's Gross Domestic Product, according to finance minister Hans Eichel.

Germany's black economy 'accounts for 17% of GDP'

Germany's black economy is generating around €1bn a day and is producing about 17% of Germany's Gross Domestic Product, according to finance minister Hans Eichel.

Speaking at the annual customs accounts, Eichel said illegal workers in Germany cost the government €348m last year through lost taxes and contribution to social security.

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