1. The part of the economy that is officially recognized, regulated, and taxed by the government, including registered businesses, employed workers, and documented transactions.
The formal economy includes all businesses that pay taxes and follow government regulations.
A economia formal inclui todos os negócios que pagam impostos e seguem as regulamentações governamentais.
2. Economic activity that is legal, documented, and subject to official oversight and statistical measurement.
Workers in the formal economy receive employment contracts and social benefits.
Os trabalhadores da economia formal recebem contratos de trabalho e benefícios sociais.