Cairo – Mubasher: Egypt’s informal economy stood at EGP 1.8 trillion, Prime Minister Sherif Ismail said in a statement.

Egypt is likely to add handcrafts industries to the formal economy which will boost the country’s gross domestic product (GDP), Ismail added.

In October, Egypt’s planning minister Hala El-Said noted that the informal sector of the Egyptian economy reached about 40% of GDP.

El-Said had previously said that Egypt’s economic growth recorded 5% during the last quarter of fiscal year 2016/2017.

Analysts are expecting the Egyptian economy to grow 4% in FY17/18.