The cost to Germany of dealing with the refugee crisis will reach €93.6 billion, according to a leaked draft of a memo from the German finance ministry. Reuters reports:
German weekly news magazine Der Spiegel said the finance ministry’s calculations included the costs for accommodating and integrating refugees as well as tackling the root causes for people fleeing from crisis-stricken regions.
Officials based their estimates on 600,000 migrants arriving this year, 400,000 next year and 300,000 in each of the following years, the report said, adding that they expected 55 percent of recognized refugees to have a job after five years.[..]
The report said that 25.7 billion euros ($29.07 billion) would be needed for jobless payments, rent subsidies and other benefits for recognized asylum applicants by the end of 2020.
Another 5.7 billion euros would be needed for language courses and 4.6 billion euros would be required for measures to help migrants get jobs, it added.
The annual cost of dealing with the refugee crisis would hit 20.4 billion euros in 2020, up from around 16.1 billion euros this year, the report said.
If the German ministry has underestimated the number of immigrants to make it to Germany in the next few years, or if it’s using overly-rosy projections of how much the refugees to contribute to the German economy—both distinctly possible—the numbers could go up from there.
To put this in perspective, Russia’s incursion into Syria is estimated to be costing between $3 and $15 billion per year (€2.6-€13.2 billion). Think of how much money Germany could have saved—not to mention how much social unrest it could have avoided and above all, how many more Syrians they could have helped—had it or the rest of the West intervened meaningfully early in the Syrian Civil War.