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06-05-14

Underground economy to hit USD142.2b in 2014

(MENAFN) Local media reported that the volume of hidden, i.e. underground, economy in Saudi Arabia is poised to grow in the current year to hit USD142.2 billion, Arab News reported. Economic experts attributed the growth mainly to the absence of clear-cut regulations on how to tackle the issue and ineffectiveness of wage control programs, notably in small and medium enterprises. The volume of hidden economy is predicted to hit USD142.2 billion in 2014, based on the estimates of the World Bank (WB).