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Thursday, 13 December 2018

Egypt seeks World Bank, IMF support to include “informal sector” in GDP

Egypt wants World Bank and IMF to include the parallel economy in GDP: Egypt’s central bank wants the World Bank and IMF to include the informal economy in the calculation of the country’s GDP and other economic indicators, Reuters reports. “We are seeking support to quantify the informal sector and recognize it in the overall size of our GDP,” Central Bank Deputy Governor Gamal Negm said during a fintech conference in Abu Dhabi. The informal sector makes up 40-50% of the country’s GDP, Negm said.

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