Official statistics agency CAPMAS said the number of informal economic enterprises in Egypt has hit two million, representing 53 percent of economic enterprises in the country, in the first detailed official statement to be made on the size of its informal economy.
"The figures of the informal economy should not be feared, especially that overall investments in the sector reached EGP 69.3 billion [$4.4 billion], representing 5.1 percent of paid-up capital in economic activity sectors," Khairat Barakat, head of official statistics agency CAPMAS, said at a press conference.
Barakat said that the number of workers in the informal sector has reached four million, or 29.3 percent of overall employees in economic enterprises in the country.
According to CAPMAS statistics, 36.9 percent of total labor in the informal economy in 2018 was distributed between Cairo, Giza and Qalioubiya.
Four economic activities, wholesale and retail trade, the processing industry, agriculture, and fishing and food services, account for 84.2 percent of total labor in the informal sector.
In November 2017, then prime minister Sherif Ismail said that the grey economy in Egypt was estimated at EGP 1.8 trillion.