The grey economic growth in Bulgaria reached nearly 34 per cent, Bulgarian Industrial Association (BIA) research showed.

BIA head Bozhidar Danev said that the percentage increased every year, turning into epidemics.

Grey economy growth leads to higher economic growth in the country. The official economic growth in Bulgaria was 6.5 per cent while the real one reached eight per cent.

The failure of retailers to issue invoices and lowering of property prices when selling shares or assets were among the main resources of the grey economy.

Construction, tourism and services hold the biggest share of grey economy in Bulgaria, BIA said.