Employees transferred almost $6.5 billion to Ukraine in half a year

Author:
Sofiia Telishevska
Date:

In the first half of the year, wage earners transferred $6.46 billion to Ukraine. This is 6.2% less than a year earlier.

This is reported by the "Price of the State" project with reference to NBU data.

Experts believe that in the second half of the year, transfers will grow at a faster pace.

The volume of remittances fell significantly in the first four months of this year. A drop in transfers through official channels was recorded. At the same time, the level of transfers through informal channels remained stable.

However, already in June, the volume of private transfers reached $1.23 billion. This is 1.2% more than in June 2021.

Project experts predict that the total annual amount of transfers will be about $13-14 billion, while the NBU gives a more conservative forecast of $12.6 billion.

It is emphasized that the rapid increase in the number of forced migrants abroad has led to a significant outflow of currency from the country. At the same time, remittances from labor migrants to Ukraine remain stable and ensure the flow of currency to the country.

Economists emphasize that income from labor migrants, as well as the total volume of international aid, is not enough to compensate for the outflow of currency from the country.