Due to labor migration, prices will rise and economic growth will slow, the National Bank of Ukraine warns in a new inflation report.
Monday, August 6, 2018

Due to labor migration, prices will rise and economic growth will slow, the National Bank of Ukraine warns in a new inflation report.

Due to labor migration, prices will rise and economic growth will slow, the National Bank of Ukraine warns in a new inflation report. The Bank writes: “One of the main risks of the base scenario is the continuation of the outflow of labor from Ukraine, which will create a high rate of further imbalances between supply and demand in the labor market.” The worker outflow is felt most in construction, industry, agriculture, transport and communications. Yaroslav Mazur, a labor market expert, tells UNIAN that for Ukrainians to lose the incentive to work abroad, the monthly salary level should rise to 500 euros, nearly double from current level of 291 euros.

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