Egypt wants its informal sector quantified

Egypt’s

central bank wants the World Bank and International Monetary Fund (IMF) to provide technical support to quantify the country’s informal sector, 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 said in Abu Dhabi, adding that the informal sector accounted for about 40 to 50 per cent of GDP. Negm did not discuss World Bank and IMF’s response to the idea. (Staff Report)