Grey economy in Egypt is worth EGP 1.8 trillion

The size of “the grey market” in Egypt is estimated to be EGP 1.8 trillion, Egyptian Prime Minister Sherif Ismail said on Monday.

Speaking to reporters at the International Handicrafts Show in Cairo, he said that the government was working to merge the grey market with the official economy.

According to some estimates, the handicrafts industry is considered one of the main contributors to the informal sector in Egypt.

Ismail also said that the government was looking to continue the handicrafts show in other governorates.

The event, which features over 150 companies and associations from all over the country and is the first of its kind, concludes on Friday.