One of the mysteries of the English language finally explained.
The part of a country's economic activity that is not accounted for in official statistics.‘the growing grey economy is also a reason for the revenue deficit’
- ‘But city officials say the chaotic market needs a cleanup and the gray economy needs to move out of the shadows.’
- ‘Unlicensed mills are part of a gray economy that has come to define development in the Amazon.’
- ‘There are 20 million participants in the U.S. gray economy who aren't illegal, who are legitimate citizens.’
- ‘Most children working without a contract are hired in the grey economy.’
- ‘The country's grey economy is robbing the Government of close to 1.6 billion euro in unpaid taxes annually.’
- ‘The finger of suspicion is also being pointed at operators in the grey economy, where thousands of sole traders and self-employed are believed to have migrated in order to survive.’
- ‘Mr Delaney believes the burgeoning grey economy is a major factor in the sharp drop in income and other tax in the past few years.’
- ‘A further 150m euros would be generated by reducing the so-called grey economy, smuggling and illegal tobacco trafficking.’
- ‘A reduction of five to six per cent in social security contributions will also be introduced to help counter the grey economy.’
- ‘Data suggests informal work in Greece - which already has one of the largest grey economies in the eurozone - is rising quickly.’
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