Estimates of black market revenue will be included to comply with new European Union rules, Italy's statistics agency Istat announced Thursday. Hidden economic activity, including prostitution, the drug trade, contraband tobacco products and illegally manufactured alcohol will be included, an Istat report said.
The information will be blended into gross domestic product (GDP) data beginning in 2015.
The new list of illegal revenue producers will be included so the European Union gets a better picture of member states' true economies. An accurate depiction of a country's economic status is useful in ascertaining if certain target ratios, such as debt-to-GDP, are being met.
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