Pusher Power: France To Use Illegal Drug Sales To Boost Economic Growth By Billions

France will include sales of illegal drugs in its gross domestic product (GDP) calculations.

The Insee statistics agency made the announcement as part of a pan-European effort for nation states to include the sales of drugs in their economic growth figures.

Eurostat is trying to bring European nations on to the same page in determining GDP and one measure is for all members of the bloc to include the drug stats.

The organisation has said that illegal drugs sales as well as a prostitution audit should be part of each nation's economic figures.

The Netherlands has been one of the frontrunners of this policy. Prostitution, which was legalised in the Netherlands in 2000, is now included in the country's financial growth statistics along with the legal sales of marijuana.

Several other nations including Spain, Britain and Italy have taken similar steps since the Eurostat policy was announced in 2013.

The head of Insee's national accounts, Ronan Mahieu, downplayed the impact that the new calculations could have on French GDP figures.

He told the Local that France's current GDP of €2.2tn (£1.9tn) would only increase by "a few billion euros".

French revenues for illegal drug use will be based upon figures that are provided to Insee's economics department by specialists.

Unlike the Dutch, France has ruled out including prostitution in the figures, saying that it cannot always be verified whether a sex worker has provided consent.

RECENT NEWS

Betting On A Rebound: How Asian Hedge Funds Are Positioning Themselves In China

After a turbulent period marked by regulatory crackdowns, economic slowdowns, and geopolitical uncertainty, China is onc... Read more

Hedge Funds Bet Big On The Weather: Why Top Firms Are Paying $1 Million For Meteorologists

Hedge funds have long been known for their ability to exploit market inefficiencies using cutting-edge data and advanced... Read more

The Next Financial Shock? Why Hedge Fund Unwinding Could Signal More Trouble Ahead

Hedge funds recently executed their largest single-stock sell-off in over two years, a move that sent shockwaves through... Read more

Hedge Funds Thrive: Why Citi's Mithra Warrier Sees A Favorable Market Environment

Hedge funds are positioned to capitalize on today’s dynamic financial landscape, according to Mithra Warrier, Citi’s... Read more

Global Retreat: Hedge Funds Slash Stock Exposure Across Key Markets

Hedge funds have aggressively reduced their stock exposure, executing the largest net selling in a year. This widespread... Read more

Top Hedge Funds Hit By Market Volatility As Geopolitical Risks Mount

Some of the world’s largest hedge funds, including Ken Griffin’s Citadel and Izzy Englander’s Millennium, suffered... Read more