Italy planning to boost economy by including shadow economy as part of GDP

Friday, June 6th 2014 - 08:02 UTC

Full article 3 comments

Drugs, prostitution and arms smuggling may not be legal, but it's all real economic activity, at least in Italy, which will now include illegal enterprises as part of its gross domestic product (a measure of the goods and services a nation produces). Italy has decided to boost the size of its economy by including the value of black market activities. Read full article

Comments

Disclaimer & comment rules

ChrisR
“For example Turkish researchers estimate the shadow economy averages just below 18% of GDP in Organization of Economic Co-operation and Development and EU countries and is as high as 42% in some Latin American countries.”

Namely The Dark Country (TDC). They are used to making up the figures at INDEC.

Putting “black economy” as part of GDP: despicable act and true to the Mafia running Italy and TDC also, it seems.

As an investor am I impressed with this? Ha, ha, ha.

Uruguay WILL be able to include the marijuana sales: it's legal here!

I think all the world is going absolutely mad, MAD I say!
Jun 06th, 2014 - 07:58 pm - Link - Report abuse 0
-+
Clyde15
Fine if they decided to pay taxes on their gains.....but they will not.
They will expect the more honest in the EU to continue bankrolling them.
The “olive grove belt” will continue to screw the rest of the taxpayers.
Jun 07th, 2014 - 08:42 am - Link - Report abuse 0
-+
Think
TWIMC

Sassenach at (1) says…:
”Putting “black economy” as part of GDP: despicable act and true to the Mafia running Italy and TDC also, it seems.”

Lowlander at (2) says…:
The “Olive Grove Belt” will continue to screw the rest of the taxpayers.

Think at (3) says…:
Meanwhile, in the Turnip Fields of Britain…:
”Financial Times, May 29, 2014…: Britain said on Thursday it would include prostitution and illegal drugs in its official national accounts for the first time. The move is one of the changes planned for September that will add up to 5 per cent to the UK’s gross domestic product.”
http://www.ft.com/intl/cms/s/2/65704ba0-e730-11e3-88be-00144feabdc0.html#axzz33zOcJEbH
Jun 07th, 2014 - 09:04 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!