Informal sector biggest income generator: Dept

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THE informal economy is the biggest generator of income for families in the country, according to a report.
It is based on a national audit of the informal economy survey conducted last year by the Department of Community Development, Youth and Religion.
The National Executive Council has made the findings available to stakeholders to help them in planning their work.
Department secretary Anna Solomon said the informal sector economy was worth billions of kina, given that it also involved formal sector employees outside office hours.
“The informal economy, which is the grassroots expression of the private sector, is the economy that feeds many families in Papua New Guinea,” Solomon said.
She thanked the Government for acknowledging the importance of the informal sector with the setting up of a dedicated section in the department three years ago.
“This has allowed the completion of the first global audit on the informal sector throughout PNG,” she said.
The 12-month survey was done through face-to-face and phone interviews, in conjunction with staff from the Consultative Implementation and Monitoring Council and United Nations Women consultants. The survey looks at how big the informal economy is, the component activities in the sector, who were involved, resources used, the outcomes (cash) for households, and the barriers to improved productivity and wellbeing.