Ukrainian refugees who have secured employment in Central and Eastern European countries have become a significant factor in the economic growth achieved. Their return home after peace is established in Ukraine could harm the economies of these nations. Writes TSN. This was reported by Kontrakty.UA.
This is reported by Reuters.
According to estimates from Raiffeisen Bank International, economic growth in Central and Eastern European countries in the past year of 2024 reached 2.2%, surpassing the bank's forecast of 0.8% for the Eurozone.
Ukrainians who have acquired legal rights to reside and work in Europe have contributed to this dynamic through the rapid expansion of production and exports in the region.
As per Eurostat data, of the 4.3 million people who fled the war in Ukraine to the EU by December 2023, 22% were in Poland and approximately 9% in the Czech Republic.
“Part of the economic success in many countries is linked to Ukrainians who relocated there over the past two years,” asserts Christian Petter, head of the Austria and Central and Eastern Europe division at J. Safra Sarasin.
The loss of these workers could lead to a labor shortage, which would directly impact labor markets and inflationary processes.
It is worth noting that some EU countries, where Ukrainian refugees fled after the onset of the war, are interested in having them stay and find employment there.