KBRA Europe (KBRA) releases new research on the Ukrainian refugee crisis and the fiscal impact for host nations. In the past few months, the number of refugees has climbed to around 10 million, although about 4 million Ukrainians have returned home, reflecting the more localised conflict in the Donbas region. Should the Ukrainian refugee crisis return to the heavy humanitarian influx seen in the immediate aftermath of the Russian invasion on 24 February, KBRA would expect that scenario to exert more acute fiscal, economic, and political pressure on host countries.

Key Takeaways

• An estimated 3.7 million refugees are likely to settle more permanently in host countries.
• Total spending on refugees in the largest frontline state, Poland, amounted to about 1% of that country’s GDP through June.
• There is no apparent additional international aid commitments, currently at $36 billion.

Click here to view the report.

Related Publications

• Ukraine Refugee Crisis and Poland’s Economic and Credit Outlook
• Russia-Ukraine: Global Safety Nets Cast for Ukrainian Refugees
• Ukraine Refugee Crisis: EUR36 Billion Moderates Cost to Host Countries
• Russia’s Invasion of Ukraine: Initial Contours of Credit Risk
• Europe’s Energy Crisis: Potential Impact of Russian Gas Supply Changes

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

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