Ukrainians sent as much as 11 billion dollars to the country in 2018. Most transfers are from Poland

The amount of remittances from migrant workers 4.5 times exceeded the sum of foreign investments. Thanks to currency transfers in 2018, the hryvnia exchange rate did not drop, and Ukraine kept its balance of payments.

According to the data of the National Bank of Ukraine, in 2016 the amount of remittances of economic migrants to Ukraine amounted to USD 7.5 billion. In 2017 - USD 9.3 billion. In 2018 this amount increased to USD 11 billion, which is 10%. The country's GDP and 4.5 times exceed foreign investment in the Ukrainian economy (which amounted to USD 2.4 billion).

It should be noted that according to the estimates of the International Organization for Migration in 2017, the amount of remittances from Ukrainians working abroad amounted to USD 12 billion. The Bank of Ukraine explains this discrepancy in data with difficulties in accurately estimating the total amount of transfers. We should also not forget that some Ukrainian employees do not use remittances and still carry cash across the border in person.

Money transfers from labor migrants save their country.

According to economic experts, the money transferred by immigrants stop the crisis of the Ukrainian economy. Converted for the last year 11 billion dollars. contributed to the stable exchange rate of the hryvnia, maintained the balance of payments, which is important for attracting foreign investors. $ 11 billion this is exactly what the deficit in foreign trade in Ukraine was.

Sergey Fursa, a Ukrainian analyst of the investment company Dragon Capital, claims that in the short term the concept of such a large migration is a plus for banks and the financial system. However, in the long run, the increase in migration means the loss of competitive advantages of the country against the background of labor shortages.

The amount of transfers in 2019 should increase.

The head of the NBU council, Bohdan Danylyshyn, predicts that this year the amount of transfers of Ukrainian economic migrants will increase due to the increase in wages. According to him, the amount of transfers in 2019 may amount to USD 12.2 billion.

At the same time, the head of the NBU announced its concern, although money from abroad is an important element of helping the economy, the outflow of people from the country means: loss of public funds invested in education, aging nations, the collapse of industry and deterioration of the business environment.

In 2019, Ukraine may lose 1.5 percent. employees as a result of labor migration.

Most remittances come from Poland.

Money transfers from Poland have been growing for the fourth year in a row - from 1.4 to 3.6 billion dollars. As for Russia, the amount of transfers has dropped significantly - from 1.7 to 1.1 billion dollars. Transactions from the United States show positive dynamics - from 0.5 to 0.8 billion dollars. Also the Czech Republic - from 0.3 to 0.8 billion dollars. There was also an increase in cash transfers from Italy, Germany, Great Britain, Israel and Cyprus.

The number of Ukrainians abroad will gradually decrease.

According to the Ministry of Social Policy of Ukraine, 3.2 million Ukrainian citizens live permanently abroad, and temporarily stays - from 7 to 9 million people.

Due to the change that takes place in Ukraine, i.e. the equalization of wages, economic recovery and excess of human resources in the labor market of our neighbors, we expect a slower pace of economic migration - said Kateryna Rozhkova, deputy head of the NBU.



Ukrainians sent as much as 11 billion dollars to the country in 2018. Most transfers are from Poland

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