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Italy to boost GDP figures
with drugs and prostitution

Telegraph [UK], by Harry Alsop

Original Article

Posted By:Ribicon, 5/24/2014 9:21:28 AM

Istat, Italy´s national statistics office, will include estimated dealings from drugs, arms trafficking and prostitution in its GDP figures from now on, acoording to Bloomberg. This move should increase Italy’s economy by at least 1.3 per cent in the first year, helping it to comply with EU rules on indebtedness, which limit member countries to spending no more than 3 per cent of their GDP. (Snip) The Bank of Italy estimated the value of the criminal economy at 10.9 per cent of GDP in 2012. The "grey economy" of businesses that do not pay taxes is already calculated in Italy´s

Comments:
Including such guesses in official figures allows governments to skirt the rules they made. Not too far afield from the legitimate businesses that dodge paying taxes, which already are tallied in the reporting.

      


Post Reply  

Reply 1 - Posted by: uno, 5/24/2014 9:47:17 AM     (No. 9860330)

Sounds to me like they´re just Greece-ing the skids...

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Reply 2 - Posted by: MirJoy, 5/24/2014 9:49:30 AM     (No. 9860332)

The world is, indeed, a mess.

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R-G1
  


 
Reply 3 - Posted by: tip35c, 5/24/2014 9:49:57 AM     (No. 9860333)

This tends to have one very beneficial effect: People stop paying attention to worthless government figures.

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Reply 4 - Posted by: MDConservative, 5/24/2014 9:53:10 AM     (No. 9860337)

Italy is the "I" in "PIG"...Portugal, Italy and Greece.

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Reply 5 - Posted by: ROLFnader, 5/24/2014 9:57:09 AM     (No. 9860339)

Wow! It´ll be like Vegas or Atlantic City.

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Reply 6 - Posted by: LC Chihuahua, 5/24/2014 1:24:59 PM     (No. 9860557)

Now Italian organized crime can openly run for office promising to boost revenues from criminal activities. Your new class of economic gurus will in truth be crimelords. The ultimate end of corruption is when the criminal class is openly in charge.

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Reply 7 - Posted by: dman, 5/24/2014 2:41:48 PM     (No. 9860619)

"That´s amore"!!

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R-TA-Wide
  


 

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