FORMALIZING THE INFORMAL ECONOMY: AREQUIREDSTATE REGULATORY AND INSTITUTIONALAPPROACH EGYPT AS A CASE STUDY

Informality has always been a challenge for Egypt as a developing country. The informal employment has jumped from 30.7 per cent in 1998 to 40 per cent in 2012. The main reasons behind the increasing informality are varied, numerous and different. Moreover, the negative impacts of informality are not only confined to the individuals, households or companies that are working in the informal sector but on the economy of Egypt as a whole. Hence, an integratedregulatory approach must be adopted to rescue Egypt’s economy and get it out of the unforeseen future.