07/15/2017
Like the formal economic sector, the informal sector contributes significantly to economies. This is especially true in developing countries where the official Gross National Income (GNI) metric contributes to 40%.
The informal sector, informal economy, or grey economy is the part of an economy that is neither taxed nor monitored by any form of government. Unlike the formal economy, activities of the informal economy are not included in a country’s gross national product (GNP) or gross domestic product (GDP).