Refugees from Ukraine make Slovakia richer

The Slovak labor market absorbed 15,000 refugees from Ukraine last year and this year it may absorb another 5,000, the Finance Ministry estimates. They are mainly taking jobs that Slovaks are not interested in, as the overall unemployment rate keeps falling. Thanks to the refugees’ consumption of goods and services, Slovakia's GDP growth rate will be 0.2 points higher in the coming years, and they will pay 0.1% of GDP a year in taxes and levies. In addition, firms will increase their output thanks to them. Slovakia spent 0.3% of GDP on refugees last year, which was partly reimbursed by the EU.

(mfsr.sk)