The informal economy is a widespread and complex phenomenon that employs nearly 6 out of 10 workers, contributing to around 30 per cent of the GDP in developing countries. This poses specific challenges for these workers, including a lack of regulation regarding wages and working conditions. As many job seekers in developing countries view entering the informal economy as the only way to earn a living, the Global Accelerator aims to facilitate and expedite the transition to formality through targeted investments and decent job creation, particularly in those countries.
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