Ukrainians abroad stimulate the economies of other countries.

Monday, December 12, 2022
Ukrainians abroad stimulate the economies of other countries.

Spending by Ukrainians abroad in 2022 will reach $2B per month, which is three times more than the previous year, the head of the National Bank, Andriy Pishnyi, said. According to Pishnyi, because of spending and employment of Ukrainian citizens abroad, the European economy enjoys a positive fiscal effect and a long-term positive impact. Due to contributions from Ukrainian migrants, GDP in, for example, Estonia, Poland, and the Czech Republic in 2026 will be 2.2% – 2.3% higher than models without migration. Since the beginning of the war, Ukrainians in Poland have paid 10B zlotys ($2.4B) in taxes, which significantly exceeds the amount of aid provided, said the head of NBU. The bank considers fears and pessimistic forecasts regarding the negative impact of the multi-million person flow of migrants from Ukraine unfounded, as they do not consider the beneficial financial impact of the Ukrainian people.

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