Minister defends institution devoted to study of informal economy

Luanda – Angola’s minister of Justice and Human Rights Francisco Queiros Monday defended the creation of an institution dedicated to the study of the causes of the informal market and solutions to decrease it in Angola.

The minister was speaking to the press on the fringes of the opening session of the roundtable on the informal economy, running until Tuesday in Luanda, sponsored by Speranca Esperanca Foundation.

Francisco Queiros said that the institution should be tasked with proposing solutions to the government on how to address the issue of the informal economy, with focus on study of the causes of this phenomenon and the use of legal instruments.

The official stressed that the event will provide insight into how the informal economy is developing in the country.

It will also enable the participants to analyse the data provided by the World Bank, according to which, the informal economy is accountable in many cases for 90% of the useful workforce.

To Francisco Queiros, the analysis of the causes of the informal economy must also take into account with cultural, religious and historical aspects.

In turn, the Bishop of the Tocoist Church, Dom Afonso Nunes, said that such institutions should convey confidence to the citizens on the advantages to move from the informal to the formal market.

On the formalisation of the economy, the Church authority advised the states to work on the organisation of this aspects.

On the other hand, he urged people to create self-employment, adding that entrepreneurship must be formalised to pay taxes in order to improve the living conditions of population.

Source: Angola Press News Agency