Anti-LGBT+ discrimination damages Eastern Europe’s economic growth

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04/28/2021

Discrimination against lesbian, gay, bisexual and transgender people costs Eastern European countries almost 2% a year in economic growth, a coalition of dozens of global companies promoting LGBT+ inclusion said on Tuesday. Hungary, Poland, Romania and Ukraine are losing billions of dollars each year due to the lack of equal workplace rights for LGBT+ people and factors such as higher health costs related to HIV/AIDS and depression, said Open For Business (OFB). They are also facing a “brain drain” of skilled workers and struggling to win foreign investment, found OFB, which is backed by tech giants Google and Microsoft, Barclays and Deutsche Bank, spirits group Diageo and accounting firms PWC, EY and KPMG.

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