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Ukrainian remittances from Poland reach $3.84 billion in 2017
12:31, 16 March 2018

Ukrainian remittances from Poland reach $3.84 billion in 2017

The Polish National Bank forecasts some 200,000 – 300,000 Ukrainian citizens will come to work in Poland every year.

12:31, 16 March 2018

Open source

Poland’s Deputy Foreign Minister Bartosz Cichocki has claimed the amount of remittances transferred by Ukrainians back home in 2017 grew by almost 1.5 times and reached PLN 13 billionumber84 billion). While Ukrainians transferred PLN 8 billion back to their home country in 2016, the latest information from our central bank shows that some PLN 13 billion was transferred in 2017, he said at the 11th Europe-Ukraine Forum in Rzeszow (Poland), UNIAN reports.

Related: EU does not consider Ukraine as migration risk country, - State Migration Service

“This is certainly no charity – this is people’s earnings, but Poland has given them the opportunity to make this money,” the official said. As reported earlier, the National Bank of Poland forecasts some 200,000 – 300,000 of Ukrainian citizens are expected to come to work in Poland until the end of 2020. The National Bank of Ukraine also predicts that labor emigration from the country will continue rising for another two or three years, but will start declining in the medium run.

Earlier, the National Bank of Ukraine reported that in the first nine months of 2017 Ukrainians working overseas transferred a total of $5.192 billion back home, which is 29.6% greater than the figure for the same period last year.

The United States became the main source of remittances for the first time ever in 2017. Remittances from the USA rose by 24.6% and reached $547 million. On the other hand, remittances from Russia declined by 39.3%, to $460 million.

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