THE IMPACT OF MONEY LAUNDERING OPERATIONS ON SUSTAINABLE DEVELOPMENT IN EGYPT | ||
| Journal of Environmental Science | ||
| Article 19, Volume 48, Issue 2, December 2019, Pages 491-515 PDF (664.79 K) | ||
| Document Type: Review Article | ||
| DOI: 10.21608/jes.2019.156968 | ||
| Authors | ||
| Melad B. Gabra1; Amr H. Abdel Bar2; Mahmoud A. M. Amin2 | ||
| 1Arbah Real Estate Development & Investment Co | ||
| 2Faculty of Commerce, Ain Shams University | ||
| Abstract | ||
| The study aims to shed light on the negative effects of money laundering operations on sustainable development and the national economy in Egypt. This is achieved by studying the extent of the linkage of money laundering operations, as economic development reflects sustainable development and comprehensive development, because development does not aim to maximize per capita output. But also to achieve the basic needs of individuals, raise their living standards, reduce poverty, reduce the misallocation of national income, and achieve economic and social well-being through the optimal use of resources and reduce unemployment, in addition to justice in Development outcomes are communicated to all members of society while providing productive and social services. The researchers relied on reports and bulletins issued by (arab Monetary fund, Bulletin of Economic Statistics of Arab Countries, Report on Monitoring Economic and Social Performance at the Ministry of Planning, Follow-up and Administrative Reform) and through some methodological procedures (inductive, deductive, descriptive and analytical), study and analysis of economic indicators of the Egyptian reality during the year (2000-2018) , in order to reach the negative effects of money laundering in order to work to reduce or eliminate. The study reached the following results: 1. Money laundering negatively affects the achievement of sustainable development through its negative impact on economic development and threatening economic stability. 2. Money laundering has a negative impact on the national economy through a decline in public revenues, which negatively affects the state's ability to meet its obligations, in addition to increasing the gap between production and consumption, as well as the balance of payments gap. Money laundering has negative effects on the national economy. The most important recommendations of the researcher include the following: 1. Work to integrate the hidden economy into the formal economy through laws and legislation that facilitate this, in addition to tax incentives. 2. Develop a strategy to achieve high growth rates that are higher than the rate of increase in population, and work to redistribute national income, and take into account most aspects that achieve economic development in the short term and work to achieve sustainable development in the long term. | ||
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