Study estimates four million are working in Spain's black economy: "The savings banks association FUNCAS has said it thinks that there are four million non-declared jobs in Spain’s black economy, and estimated that the submerged economy represents 17% of the country’s G.D.P.
They estimate that Hacienda misses out on 30 billion € every year through people working black.
The FUNCAS study shows that many people work both officially and in the black economy at the same time. It has been compiled by professors from the Rey Juan Carlos University in Madrid, María Arrazola, José de Hevia, Ignacio Mauleón and Raúl Sánchez.
They say they carried out the study using three different methodologies and estimate the number employed in the black economy in the country has risen from 1,4 million in 1980 to four million now."
