Black economy generates half Algeria's trade: minister

The black economy accounts for half the revenue made by Algerian businesses, the country's trade minister said Monday.

"Most of the above-board economic agents, who are registered with the trade ministry, are involved in black economy practices," Mustapha Benbada told an international business meeting in the capital Algiers.

"Half their revenue is generated by the black economy", he said.

Over the past three years, receipt-free transactions have accounted for 155 billion dinars (1.55 billion euros), according to estimates by his ministry.

While condemning such practices, the minister acknowledged that "it is socially useful as it allows tens of thousands of families to make a living".

Source: http://news.yahoo.com/black-economy-generates-half-algerias-trade-minister-152143155.html

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