RGE - Remittances to Eastern Europe to slow dramatically
Remittances are one of the key components of the GDP for Eastern European countries. Millions of migrants moved from Eastern to Western Europe to find work. Over the past several years they were sending the remittances back home. This amounted to up to 5% of GDP in their home countries. Now, with Western European countries entering recession and depression, and currencies devaluating, the flow of funds to Eastern Europe will slow dramatically.
Not to mention already disappeared foreign investments and international aid.
Remittances are one of the key components of the GDP for Eastern European countries. Millions of migrants moved from Eastern to Western Europe to find work. Over the past several years they were sending the remittances back home. This amounted to up to 5% of GDP in their home countries. Now, with Western European countries entering recession and depression, and currencies devaluating, the flow of funds to Eastern Europe will slow dramatically.
Not to mention already disappeared foreign investments and international aid.
Posts
No comments:
Post a Comment