Volume of remittances to Ukraine exceeds pre-war level

11 July, 04:25 PM
The growth of remittances to Ukraine is associated with the employment of Ukrainian refugees (Photo:Vardan Papikyan \ Unsplash)

The growth of remittances to Ukraine is associated with the employment of Ukrainian refugees (Photo:Vardan Papikyan \ Unsplash)

The volume of money transfers to Ukraine from abroad over the first five months of the year exceeded the pandemic level of 2020, MP Yaroslav Zheleznyak reported on Telegram, referring to central bank data.

The total volume of remittances from abroad to Ukraine is also still increasing, and in the past month exceeded the pre-war level of the first months of the year.

"This is despite the fact that we still have a travel ban for men," Zheleznyak said.

The parliamentarian said that, on average, over five months of 2022, the volume of funds transfers exceeded the level of the pandemic year 2020.

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He added that this was due to the active employment of Ukrainian immigrants abroad or "certain foreign exchange manipulations.” He did not explain what these manipulations might involve, however.

In 2021, the volume of private money transfers to Ukraine exceeded $15 billion, which was over $3 billion more than in 2020.

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