Featured Politics News World News

Egypt wants World Bank, IMF to include informal sector in GDP

By Meletus EZE

Egypt’s Central Bank wants the World Bank and International Monetary Fund to include the country’s informal sector in their gross domestic product figures.

The country wants included other macro-indicators for Egypt, the bank’s deputy governor Gamal Negm said on Wednesday.

“We are seeking support to quantify the informal sector and recognise it in the overall size of our GDP,” Negm told a financial technology conference in Abu Dhabi.

He added that the informal sector accounted for about 40 to 50 per cent of GDP.

He did not discuss the response of the World Bank and IMF to the idea, or say when the proposal might take effect.

Related posts

Denmark to ban petrol, diesel cars by 2030

Editor

How Obasanjo crushed Boko Haram within weeks — Atiku

Editor

ALSCON to resume operation soon -Minister

Editor

MoneyCounsellors empowers investors with information on wise investment choice, decision  

Editor

Osinbajo takes “TraderMoni’ to Ketu, Bariga, Oshodi markets

Editor

Tough times ahead for states as FG insists on bailout repayment 

Our Reporter