for subscribers

World losing up to R27trn in illicit economy

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town - Counterfeiting and piracy will cost the global economy about R24.17trn in 2015, which is nearly 10% of the global trade in merchandise.

That is according to a new paper by the World Economic Forum (WEF) Meta-Council on the Illicit Economy, released at the WEF Summit on the Global Agenda in Abu Dhabi on Monday.

Eliminating the illicit trade in tobacco could generate annual revenues of up to R423.48bn for governments, according to the World Health Organisation.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.38
(-0.05)
ZAR/GBP
22.72
(-0.10)
ZAR/EUR
20.56
(-0.12)
ZAR/AUD
12.45
(-0.12)
ZAR/JPY
0.16
(-0.19)
Gold
1942.90
(+0.07)
Silver
26.42
(+0.07)
Platinum
941.16
(+0.46)
Brent Crude
44.74
(-0.36)
Palladium
2104.73
(+0.41)
All Share
57077.48
(-0.60)
Top 40
52737.48
(-0.65)
Financial 15
10156.41
(-0.69)
Industrial 25
75107.47
(-0.84)
Resource 10
58926.78
(-0.40)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1011 votes
It depends on how the funds are used.
74% - 6772 votes
No. We should have gotten the loan elsewhere.
16% - 1429 votes
Vote