Hatem Saleh: Random Economy Acquires 80% Of National Economy

Hatem Saleh, the Minister of Industry and Foreign Trade, said the random economy transactions represent 80% of total national economy and it significant for Egypt’s GDP; therefore it is a serious indicator around the capabilities of  the Egyptian economy growth in the coming period.

 In his statements to Amwal Al Ghad, Saleh said the random economy creates a state of unfair competition in Egypt; especially it doesn’t subject to official fees. This relatively decreases its productive cost, so it is sold with low prices; in addition to that it doesn’t largely depend on the standard specifications.

He added that the government is planning to eliminate this random. Furthermore, the government is attempting to merge it with the official economy transactions, adopting high risks rates to avoid the community explosion in case of not providing alternative income sources for the workers.