Remittances of Ukraine’s labor migrants were down 8.5% in June yoy

Remittances of Ukraine’s labor migrants were down 8.5% in June yoy, falling to $856 million, reports the National Bank of Ukraine. After a strong start to the year, remittance fell sharply in in April and May, ending the down by 4% for the first half of this year. After food exports, labor remittances are the second largest source of income for Ukraine. Through banks, private channels and international payment systems Ukrainians sent home at least $1 billion a month last year.