Brazil’s Shadow Economy Loses Billions Every Year: New Study Reveals

In recent years, the shadow economy in Brazil has been a significant source of concern for many. The ongoing feud between the House and government has only added to the issue. However, a Congress hearing on Twitter Files Brazil is shedding light on the matter.

A recent study by the National Confederation of Industry revealed that Brazil loses an astonishing BRL 453.5 billion (USD 85 billion) annually to illegal activities like contraband, theft, piracy, and tax fraud. This study shows that if it were its own state, the shadow economy would be the sixth-largest local economy in Brazil.

One industry that is particularly hard hit by this illegal activity is the clothing industry. As a result of these illicit activities, 67,000 jobs are not being created each year. This is a significant loss for both the government and citizens alike.

Carlos Erane de Aguiar, security director for industry federations in São Paulo and Rio de Janeiro, has called these numbers a national disgrace that must be addressed urgently. He urged the government to take a stricter stance against illegal activities in order to address this issue head-on.

In addition to job losses, this illegal economy has also prevented 370,000 formal jobs from being created in 2022 alone. This highlights just how much damage can be caused by criminal activity and how important it is for law enforcement officials to do their job effectively.

Supporters of efforts to combat illegal activity can help by contributing to coffee funds for reporters who are working tirelessly to uncover information about this issue. By doing so, they will gain access to exclusive perks and help support important work that is vital for our society as a whole.

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