By Jan Strupczewski BRUSSELS (Reuters) - The European Commission expects some 3 million asylum seekers to arrive in the European Union by 2017, who would boost the EU's economic output and even improve public finances in the longer-term if integrated into the workforce. In its economic forecasts for the 28-nation bloc on Thursday, the EU executive arm assumed for the purpose of its simulation that 1 million asylum seekers would arrive in the EU this year, another 1.5 million in 2016 and half a million in 2017. If half of the arrivals are granted asylum and three quarters of those are of working age, they would increase the EU's labor force by 0.1 percent this year and by 0.3 percent in both 2016 and 2017, the Commission said. If the accepted migrants have the same skills as the citizens in the countries that take them in, EU GDP (gross domestic product) would increase by 0.21 percent in 2016, and 0.26 percent in 2017. If they are all low-skilled, their contribution to EU GDP would be smaller at 0.14 percent next year and 0.18 percent in 2017, the Commission simulation showed. The migrants would have a tiny negative impact on EU public finances, increasing the aggregate EU budget deficit by as little as 0.04 percent of GDP in both 2016 and 2017, but improving it by 0.03 and 0.05 percent of GDP in 2019 and 2020, the simulation showed. "While unevenly distributed across countries, the estimated additional public expenditure related to the arrival of asylum seekers is limited for most EU Member States," the Commission said. It said that for the most affected transit countries, the budget cost would be a maximum of 0.2 percent of GDP in 2015, broadly stabilizing in 2016. For countries that are the final destination of asylum seekers, such as Germany, the impact amounts to a maximum of 0.2 percent of GDP in 2015, with a small further increase in some countries in 2016, the Commission said. Sweden, which has among the highest share of refugees as a percentage of the population in the EU, would see an increased impact on the headline budget balance than others at closer to 0.5 percent of GDP this year and smaller positive effects on growth, the Commission said. The Commission made a separate simulation of the economic impact of asylum seekers for Germany because that is the country that will take in the bulk of the refugees. Due to the migrants, German GDP will be 0.43 percent bigger next year and 0.56 percent higher in 2017. The positive effect would rise to 0.72 percent by 2020, the simulation for migrants of the same skill-set as the local population showed. But the additional goods and services produced by the accepted migrants would not be enough to boost overall wealth for all Germans -- German GDP per capita is to fall by 0.6 percent next year and still be 0.3 percent lower in 2020. The migrants will also have a tiny, but still negative impact on German public finances -- in the more optimistic scenario of all migrants having the same skills as locals, the German budget would record a net cost of 0.25 percent of GDP in 2016, and a negative impact of just 0.05 percent in 2020. (Reporting By Jan Strupczewski; editing by Philip Blenkinsop)
- Shadow and Act
'The View': Whoopi Goldberg Sends Warning To Clarence Thomas Amid Roe Rollback: 'He Better Hope That They Don't Come For You' With Loving
Whoopi Goldberg has a stern warning for Supreme Court Justice Clarence Thomas, saying that a Roe rollback could res
Stars arrived at the Microsoft Theater in Los Angeles for the 2022 BET Awards celebrating Black...
- Yahoo Celebrity
Ben Affleck's son Samuel, 10, is "fine" after a very close call in a Lamborghini. Ben and Jennifer Lopez were there as it played out.
Mary Mara, the actor best known for her recurring roles in “ER” and “Law & Order,” died in Cape Vincent, N.Y. Sunday from an apparent drowning. She was 61. In a report published Monday, the New York State Police confirmed that Mara was discovered in the St. Lawrence River in Cape Vincent around 8:10 p.m. […]
Y’all this is so hot.
- Women's Health
'Mad Men' star January Jones posted a photo in her underwear showing off her super sculpted abs and long, nude legs post knee surgery. She does Lagree workouts.
- The Daily Beast
Ukrainian State Emergency Service / Handout/Anadolu Agency via GettyRussia fired a series of rockets at a shopping center in Kremenchuk, Ukraine, on Monday, raising fears that Russia is stepping up its attacks on civilian structures regardless of the loss of life.Ukrainian President Volodymyr Zelensky said Monday there were more than a thousand civilians inside the shopping mall and the casualties to come might bring even more shock and horror to Ukrainian people already confronting so much deat
What may have been Colin Kaepernick’s last shot at a National Football League job didn’t go very well, according to Hall of Famer Warren Sapp. Speaking to urban news site VladTV, Sapp didn’t hold back when Kaepernick’s May workout with the Las Vegas Raiders came up in conversation. The VladTV host mentioned that there were […]
Georgia Democratic nominee for governor Stacey Abrams explains the change in her position on abortion: There is 'no place in that medical decision for ideology or for politicians'
"I understand the sincere concerns. But those are religious concerns, or often concerns driven by personal morality," Abrams said in a CNN interview.
Celebrities dressed up for the BET Awards Sunday in Los Angeles. Lizzo dazzled in a feathery gown, while Saucy Santana wore furry neon boots.
- Palm Beach Daily News
Matthew Wolff will be joined by former PGA Tour winner Carlos Ortiz in this week's LIV event outside of Portland, Oregon, its first tourney in U.S.
The Prince of Wales made headlines after a Sunday Times investigation revealed that Charles accepted bags of cash from a Qatari politician years ago.
Khloé Kardashian posted a boomerang of herself on Instagram posing in a high-cut baby pink bikini from Good American, and we found the exact one to shop now.
The impact of Kavanaugh's confirmation on the 2018 elections may reveal how the reversal of Roe v. Wade could impact this year's midterms
40 US House seats flipped to Democratic candidates following Kavanaugh's confirmation, including 27 where GOP candidates were previously leading in the polls.
Prince Harry and Meghan Markle welcomed their second child, a daughter named Lilibet “Lili” Diana Mountbatten-Windsor. Here's how to pronounce the royal family nickname.
Mono mono twins are very rare. One mom shared a her success story after finding out she was pregnant with mono mono twins.
- In The Know by Yahoo
Her video is shocking parents all across TikTok.
Five legal experts told Insider how the Justice Department could build a criminal case against Trump, noting he may have a strong defense.
- NBC Sports BayArea
Teams are interested in veteran center Kevon Looney, but a recent report makes it seem like his chances of leaving the Warriors in free agency are slim.
- Entertainment Weekly
There's been a shakeup in the Chris Multiverse.