Italy to add drug trafficking, prostitution to GDP figures

Standard

The Italian government will include revenue from drug traffic, prostitution and smuggling while calculating its gross domestic product (GDP) in a bid to boost its shaky economy.Starting this October, Italy will include revenues from “the illegal activities: drug trafficking, prostitution and smuggling services (cigarettes or alcohol)” to its GDP, the country’s national statistics office said on Thursday.“The methodology for estimating the economic dimension of these activities will be consistent with the guidelines established by Eurostat,” it added.The move may add up to 2 per cent to Italy’s GDP, European Union’s statistical service, Eurostat, earlier predicted. This should bring the country’s new government under Prime Minister Matteo Renzi closer to its goal – reaching strong growth and lowering the public debt, which the EU says is now “the major challenge”.

For full report read ….. http://rt.com/news/161140-italy-drugs-prostitution-economy/

Advertisements

One thought on “Italy to add drug trafficking, prostitution to GDP figures

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s