The main reason is the decrease in wages that Ukrainians receive from abroad.
The volume of private remittances to Ukraine in March decreased by 25.2% compared to March 2021 (y/y) and amounted to 929 million dollars. USA, reports National Bank of Ukraine .
< p> The main reason for this decline was the reduction in wages that Ukrainians receive from abroad. Moreover, these revenues decreased immediately by 43.7% yoy. On the other hand, the volume of other private remittances received through official channels remained almost at the level of last year.
In recent years, workers have been the main investors in the Ukrainian economy. According to NBU estimates, the volume of private remittances in Ukraine in 2021 amounted to 15.03 billion dollars. (for 2020 – 11.98 billion dollars). At the same time, private transfers worth $ 8.14 billion were made through official channels. (in 2020 – 7.41 billion dollars), and informal – 6.89 billion dollars. ($ 4.57 billion in 2020).
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Russia's large-scale aggressive war has significantly affected the economy of our country, in particular its agricultural sector. According to the Ministry of Agrarian Policy, due to the war, the area under arable land in 2022 decreased by 3.5 million hectares in the zone of active hostilities. However, the aggressor did not and will not be able to stop the work of agribusiness in Ukraine. And it's not just words, because a lot has already been done for the sustainability of agribusiness in wartime. Read more in the article Bohdan Yaskiv and Margarita Bryanska “How it works agrarian business in the conditions of war “ .
