Egypt takes further steps toward including informal businesses in its economy

CAIRO — Serious and swift actions to integrate the shadow economy in the official one are being made in Egypt. Prominent officials at the Ministry of Finance revealed May 6 that during its May 6-20 visit to Egypt the International Monetary Fund mission revises the reports on the performance of the Egyptian economy, including the government’s plan to integrate the informal sector into the formal economy.

Minister of Finance Mohamed Maait said during a May 7 press conference at the ministry’s headquarters that the Egyptian government has finalized the drafting of a bill regulating micro, small and medium-sized enterprises to ensure the integration of the informal economy into Egypt’s official one.