Departure of Ukrainians abroad after prolonged power outages exceeds Ukrainian National Bank's forecast

Rising pressure on businesses in Ukraine due to a worker shortage in the third quarter of 2024 was largely driven by higher-than-expected migration outflows, especially as prolonged power outages over the summer prompted more people to move abroad.

Source: a new inflation report by the National Bank of Ukraine (NBU)

Details: The UN noted that the number of Ukrainian migrants increased by almost 200,000 in the third quarter and continued to grow in the early fourth quarter, reaching nearly 6.8 million as of mid-October 2024.

The NBU believes that the risks of a further increase in migration outflows remain significant.

Support UP or become our patron!