Definition of black economy in English:

black economy

Line breaks: black econ|omy

noun

British
  • The part of a country’s economic activity which is unrecorded and untaxed by its government: a lot of childcare is in the black economy
    More example sentences
    • An added bonus may be a decrease in the level of activity of the black economy.
    • The EU estimates that the black economy accounts for around 20 per cent of the GDP in several countries, while the figure for other countries is put at 30 per cent.
    • It forces them reluctantly to become part of the black economy, because the cost of legitimately employing a childminder is unviable.

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Word of the day milord
Pronunciation: mɪˈlɔːd
noun
used to address an English nobleman