GOLITSYNO (Moscow region). July 21 (Interfax) - Chief of the Russian Audit Chamber Sergei Stepashin believes that figures concerning Russia's shadow economy are overly exaggerated.
"I think they are far-fetched," Stepashin said at an international conference on law, politics, economy and mass media in Golitsyno outside Moscow on Sunday.
"It is believed that $40 billion is annually illegally exported from Russia and that shadow businesses make up 70% of the Russian economy. How have these figures been obtained? If this is so, these 70% actually constitute the Russian economy, and we have wrong laws an a topsy-turvy economy," he said.
He urged Russian politicians and journalists to shape an objective picture of their country.
He also said that the international agency for combating money laundering should have crossed Russia out of its black list a long time ago as Russia has fulfilled all of its 25 terms. "Whereas Israel and Cyprus have been removed from this black list Russia has not, which looks politically motivated. Money laundering should be combated jointly," he said.