Egypt Wants World Bank, IMF to Include Informal Sector in GDP

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

The country wants included other macro-indicators for Egypt, the bank’s deputy governor Gamal Negm said 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. (Reuters/NAN)