WB: REMITTANCES BY MIGRANTS GREATLY CONTRIBUTE TO GDPs OF POOREST COUNTRIES OF EASTERN EUROPE AND CENTRAL ASIA
Washington, January 16. ArmInfo. Remittances by migrants are the
biggest source of external income for many poorest countries of
Eastern Europe and Central Asia. For the last 15 years they have
been insuring them against economic and political shocks, says the WB
"Migration and Remittances in Eastern Europe and Former Soviet Union."
Remittances by migrants make up over 20% of GDPs of Moldova and
Bosnia and Herzegovina, and over 10% of GDPs of Albania, Armenia
and Tajikistan.
The US and Russia top the list of countries receiving migrants. They
are followed by Germany, Ukraine, France, India, Saudi Arabia,
Australia, Kazakhstan and Poland.
Russia receives migrants mostly from the Caucasus and Central Asia,
Ukraine and Poland are transit countries for people migrating to
Western Europe.
WB experts say that youth migration in those countries will continue
to grow due to rising demand for labor force following the declining
birth rate over the greater part of the region.