Greece turns to illicit markets to boost GDP

Prostitution, smuggling and money laundering will increase output by 10 per cent
||Last Updated: 11/15/2006

Greece's black market, including smuggling, money laundering and prostitution, will give the country's gross domestic product a boost this year.

In an effort to answer pressure from the European Union to cut its deficits, Greece will include its booming black market in the calculation of its gross domestic product.

The addition of these illicit activities should increase Greece's output by 10 per cent in 2006, according to the National Statistics Service chief Manolis Kontopyrakis.