The volume of remittances by labor migrants to Ukraine this year is expected to exceed $11 billion.
Such a forecast was unveiled by Deputy Governor of the National Bank of Ukraine Oleg Churiy in an interview with UATV.
“The numbers will be slightly higher than last year, but there is a clear tendency to slowdown in the pace of labor migration. This is due to the fact that incomes in Ukraine are growing quite quickly, the nominal growth in wages is about 20%,” Churiy said.
He added that the strengthening of the hryvnia in 2019 by 12% influenced the growth in income in foreign currency equivalent, which is also a positive signal for Ukrainians.
“The volume of dividend repatriation this year is not much different from last year. About $3 billion has been repatriated this year,” Churiy said.According to him, such a level of the indicator does not threaten financial stability, however, the fact that businesses can manage their profit is an attractive factor for investors.
As reported, on September 10, the central bank canceled a monthly limit of EUR5 million for repatriation of funds from the sale of securities, corporate rights, as well as funds received as a result of a decrease in the charter capital of legal entities and withdrawal of foreign investors from business entities.