Migration From East Europe Hampers Region's GDP: IMF Note
Fakhir Rizvi Published July 20, 2016 | 09:52 PM
WARSAW, (APP - UrduPoint / Pakistan Point News - 20th july, 2016) : Mass economic migration from eastern Europe to wealthier countries has benefited the host nations but hampered growth in migrants' places of origin, an International Monetary Fund discussion note said Wednesday. Nearly 20 million people have left eastern Europe -- some 5.5 percent of the population -- over the quarter century since the collapse of communism, said the note that does not represent the IMF's official view.
"Because of the sizeable share of skilled emigrants, it has likely benefited the main receiving countries in the EU and, therefore, the EU as a whole," said the report. "Labour outflows tend to reduce the sending countries' GDP per capita, with the size of the impact depending on...
the age and skill composition of migrants." The study said that in 2012, GDP in central and southeast Europe would have grown by 7 percentage points if it had not been for the mass migration away from the region between 1995 and 2012. The exodus of skilled labour "contributed to fiscal burdens arising from" the distorted ratio of people in work to those not in employment, said the report.
It also warned that the departure of highly educated people could slow progress and innovation in the societies they left behind.
The report acknowledged that while money sent back by migrants can "to some extent, mitigate the negative effects of mass migration", it warned that it may also damage the work ethic of those who received such payments. Reduced levels of GDP growth due to migration are likely to continue if forecasts of migration between now and 2030 are accurate, warned the report.
"The cumulative output loss may be as large as close to 9 percent," it said. Small Baltic countries as well as Bulgaria and Romania are likely to be hardest hit. Though countries in the region that receive migrants including the "Czech Republic, Hungary, and Russia, would experience output gains". The report suggested that countries suffering from large outflows of migrants should take steps to curb migration and attract skilled workers from abroad.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
More Stories From World
-
Atletico face Bilbao challenge in Champions League race
4 minutes ago -
Man City in title groove as Arsenal face Spurs test
4 minutes ago -
Japan anime studio draws on talent of autistic artists
24 minutes ago -
Pakistan needs strong defence in view of its location in 'rough' neighbourhood: Masood Khan
24 minutes ago -
Bangladesh children sweat at home as heatwave shuts schools
34 minutes ago -
Iconic shared Olympic gold moment will not be repeated, says Barshim
34 minutes ago
-
Bangladesh children sweat at home as heatwave shuts schools
1 hour ago -
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leave after 20 years of ..
1 hour ago -
Golf: PGA Zurich Classic of New Orleans scores
2 hours ago -
Slot 'confident' of Liverpool job as 'negotiations' take place
7 hours ago -
Google parent Alphabet's Q1 profits beat estimates: company
8 hours ago -
WADA asks 'independent prosecutor' to examine Chinese swimmers case
8 hours ago