Labor migrants annually send USD 6-7 bln to Ukraine, expert

11 July 2013 10:03
KYIV (QHA) - Money of the Ukrainian labor migration abroad, which come to their families, annually reach USD 6-7 billion, which can be considered almost the main source of the currency reserves.
Economist Eric Naiman expressed this opinion at a press conference dedicated to the theme: “Why do Ukrainians Leave the Country?” a Ukrinform correspondent reports.
“Gastarbeiters send USD 6-7 billion to Ukraine annually. As it turned out, this is an excellent export “commodity.” And over different years of the currency reserves fall, it was almost the main source of their filling. Since we see a negative trade balance, which is covered at the expense of money from Gastarbeiters and foreign investments that, on average, twofold less against money of migrant laborers,” Naiman said.
At the same time, he noted that it cannot continue for a long time. “Nothing lasts forever. Except for parents, who will live in Ukraine, the growing children will most likely also go abroad. Therefore, this flow of six billion dollars is not endless.”
The expert forecasted several variants of further development of events: “Either it (a flow of money from labor migrants - Ed.) will continue or with the parallel current outflow of Ukrainians abroad we will finally have only 35 million Ukrainians.
Naiman also noted that the less labor force is in Ukraine, the more vacancies will be unoccupied. “And here a problem will arise for business about the labor force quality. Because usually most hardworking workforce leaves,” he summed up