THE ROLE AND FUNCTION OF PERSONAL REMITTANCES OF UKRAINIAN AND MOLDAVIAN LABOUR MIGRANTS FOR DEVELOPMENT OF UKRAINE AND MOLDOVA

This paper presents the results of research concerning the personal remittances of Ukrainian and Moldavian labour migrants from abroad during the period 2000-2016, using data from the World Bank. The paper also compares the personal remittances sent to Ukraine and Moldova with the total Gross Domestic Product of Ukraine and Moldova, and the role and function of personal remittances of Ukrainian and Moldavian labour migrants for public and private finance in their countries of origin. The following stages of research were used: analysis of benefits for the socio-economic development of Ukraine and Moldova gained from personal remittances of Ukrainian and Moldavian labour migrants abroad; drawing conclusions about the importance of remittances both for the families of Ukrainian and Moldavian labour migrants and for the states, as well as the general socio-economic development of the countries and its public and private finance in particular.