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Ukrainian refugees benefit Latvian economy, state TV says

Ukrainian refugees benefit Latvian economy, state TV says

20:40, 18.12.2024
  em/pk;
Ukrainian refugees benefit Latvian economy, state TV says Ukrainian refugees who fled war in their home country for Latvia since 2022 benefit the Baltic state’s economy, with their tax contributions more than making up for government support schemes designed to help them, Latvian state TV has reported.

Ukrainian refugees who fled war in their home country for Latvia since 2022 benefit the Baltic state’s economy, with their tax contributions more than making up for government support schemes designed to help them, Latvian state TV has reported.

Latvia allocated €70 million towards supporting Ukrainian refugees in 2024. Photo by Paulius Peleckis/Getty Images
Latvia allocated €70 million towards supporting Ukrainian refugees in 2024. Photo by Paulius Peleckis/Getty Images

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According to the Ministry of Finance, during the first 10 months of 2024, Ukrainian refugees working in Latvia contributed over €55.86 million to the state budget through taxes.

Ukrainians have also added to the economy by consuming goods and services and thereby contributing VAT (value added tax.)

Latvia allocated €70 million towards supporting Ukrainian refugees in 2024, the English language section of Latvia’s public broadcaster LSM+ reported.

The state revenue service reported that at the beginning of December, almost 10,000 Ukrainian refugees were employed in Latvia.

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