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EC Report: Remittances from Romanian workers account for 3% of GDP

The remittance sent by the Romanian and Bulgarian workers living abroad between 2004-2010 represents an average 3 percent of these countries GDP, reveals a report of the European Commission released in Brussels in Friday.

The document notes that the remittance of the Romanian and Bulgarian workers represents a substantial source of income for the country of origin and can contribute to the economic growth by supporting demand and by funding investments in education and newly-opened enterprises.

The remittance can thus be a partial compensation for the scarcity of the countries of origin resulted from the loss of the possible workforce. The remittance can also have a positive impact on the balance of payments in these countries.

The Commission notes that, although the significant emigration from Romania and Bulgaria of the mostly young workers towards other member states triggered concern over a possible 'brain drain,' there is no strong effect of this phenomenon in these two countries.

Moreover, the rates of registration in higher education institutions went up substantially over the past few years, a fact that might make up or the exodus of highly qualified workforce.

Although the phenomenon of 'brain draining' seems to be absent, such effects might be felt in certain sectors such as health, reads the report.

Sursa: http://www.actmedia.eu

Tags: workers romanian report

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