Economics

Informal Economy

Informal Economy

The informal economy means activities and income which are partially or thoroughly outside government rules, taxation, and paying attention. The main attraction from the undeclared economy is financial. The informal economy is the part of an economy that may be neither taxed, nor monitored by any form of government. Unlike the formal economy, activities of the informal economy are not contained in the gross national product (GNP) and gross domestic product (GDP) of the country.