Tvnet – Latvia | Thursday, April 24, 2014

Latvia benefits from its emigrants

Latvians working abroad transferred 547 million euros to their home country last year. The online portal Tvnet points out that the country benefits greatly from emigration: “The amount that Latvians living abroad send back to their families is rising each year. In this way they support their families and help to repay loans taken out before the economic crisis. Taxes are also paid using this money in Latvia. The Latvian economy can even reckon with around 350,000 Latvians ensuring good GDP figures for the next ten years because the money is spent in Latvia. … This is why those politicians who claim in their election campaigns that emigrants are people who are lost to Latvia are being unfair. They remain close and support our economy. They work in our joint European Union and will return to Latvia when they retire, if not earlier.”

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