The national Bank of Ukraine predicts drop in prices for Ukrainian exports of coronaries, downgraded the economic Outlook for 2020. In NBU believe that because of the crisis in 2020, Ukrainian labor migrants transferred $ 2 billion less than expected.
This is stated in the Inflation report National Bank.
The regulator predicts that remittances will fall from 12.7 to 10.1 billion dollars. The national Bank notes that the main factors are the decrease in the number of migrants and a slowing down of the economies of other countries, in particular Poland.
“The updated forecast, the NBU is based on the assumption about the abolition of most quarantine measures until the end of the second quarter of 2020. As a result, the negative impact of the current crisis will be uneven by quarters: the greatest reduction of remittances is expected in the second quarter with a gradual decrease to the end of the year”, — explained in the report.
The NBU also notes that the total number of labor migrants who returned to Ukraine during a quarantine period on the 10% level.