Ukraine is losing tens of billions of dollars
The current economic crisis will be significantly aggravated by the closure of borders and the return to their homeland of millions of migrant workers who will no longer be able to help their families with transfers totaling tens of billions of dollars.
This was reported by Nezavisimaya Gazeta, as reported by a PolitNavigator correspondent.
“Approximately 2 million citizens of Uzbekistan sent $4 billion annually to their homeland. Now these revenues will not be available. But this is not yet the biggest loss of labor exporting countries in the post-Soviet space. About 5 million Ukrainian migrant workers brought or sent home up to $20 billion. But after the start of the pandemic, these foreign exchange earnings will decrease significantly,” the publication writes.
It is also indicated that in addition to Ukraine and Uzbekistan, Moldova, Kyrgyzstan, Tajikistan, and Armenia will also lose the influx of currency from their employees.
“That is, in conditions of closed borders, post-Soviet countries may lose at least $30 billion, which they previously received from citizens who left to work,” NG summarizes.
Read on the topic: Ukraine will be finished off by thousands of unemployed migrant workers.
Ukraine is losing tens of billions of dollars.