Cairo – Mubasher: The Central Bank of Egypt has made a proposal to the World Bank and the International Monetary Fund (IMF) to include the country’s informal sector in their gross domestic product (GDP) figures and other macro-indicators for Egypt, Reuters reported.
“We are seeking support to quantify the informal sector and recognise it in the overall size of our GDP,” the central bank’s deputy governor Gamal Negm said on Wednesday during a financial technology conference in Abu Dhabi.
Negm added that Egypt’s informal sector accounted for around 40% to 50% of GDP.
He did not mention how both the World Bank and IMF reacted to the proposal, or say when it might take effect.
