Ukraine became region’s largest remittance recipient in Europe and Central Asia receiving more than USD14 billion in 2018. This was reported by the press center of the World Bank.
The volume of remittances to Ukraine in 2018 increased by 19% compared to 2017. According to the designated indicator, the country overtook Kyrgyzstan, Tajikistan, Uzbekistan and Russia. The World Bank explained with increasing in labor demand in the countries neighboring Ukraine (primarily in Poland), as well as improving the methodology for calculating the volume of remittances.
We note that the National Bank of Ukraine reported that labor migrants transferred USD 10.88 billion to Ukraine.
As The Journalist reported, the National Bank issued new currency licenses to non-banking financial institutions.
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