Business news from Ukraine

Experts Club will host second tasting seminar in support of Ukrainian winemaking

On June 23, 2023, Kyiv Think Tank Club, within the framework of the initiative aimed at supporting and developing the wine industry, will hold the second tasting seminar-presentation dedicated to the winners and finalists of the VIII All-Ukrainian Tasting Competition “Variety and Terroir. Micro winemaking. Unbreakable”.

According to the organizers, this event will be an interesting event for all wine lovers, both expert sommeliers and restaurateurs, representatives of retail, media community and ordinary consumers. At the seminar, visitors will be able to learn about the products of the leading craft producers of Ukrainian wines and spirits, as well as join the platform for the exchange of opinions and ideas between leading experts in the field of winemaking.

Maksym Urakin, founder of the Club of Experts, PhD in Economics, emphasized the importance of supporting domestic wine and spirits producers.

“Our event is not just aimed at developing a culture of wine consumption in Ukraine. It also contributes to the growth of domestic production, helping the economic revival of our country. Each bottle of wine produced in Ukraine is a step towards creating jobs, increasing tax revenues and enhancing economic stability,” said Maxim Urakin.

The wine samples presented at the event will be presented by the finalists of the VII All-Ukrainian Tasting Competition “Variety and Terroir. Micro winemaking. Unbreakable” of the All-Ukrainian Association of Winemakers and Sommeliers, which will give visitors the opportunity to experience a rich bouquet of flavors created using traditional winemaking methods and modern technologies. Natalia Blagopoluchnaya, President of the Ukrainian Association of Winemakers and Sommeliers, noted that all wines presented at the event have been expertly evaluated according to all criteria, from aroma and taste to texture, color and overall harmony.

The following Ukrainian wines and spirits will be presented at the wine evening:

“Sparkling pink, 2019” by 46 Parallel TM;
“Riesling, 2022 by Babchuk Winery;
“Rkatsiteli Orange, 2020” from TM “Driukivski Wines”;
“Pinot Noir, 2021 from Chateau Pinot TM;
“Pinot Noir, 2020 by Georgiy Samsoniuk;
“Merlot, 2021” and “Cabernet Sauvignon, 2021” from TM “My Wine”, Eduard Gorodetsky;
“White dessert vermouth” and “Honey casserole, 40%” from TM “Winemaker Vinokur”;
“Chacha Odesa Black, 2022, 42%” from TM “Winemaker Vinokur”;

Zweigelt 2019 TM “Vina Kovač”
Chorna perlina 2017 TM “Vina Kovača”
“Apple, 42%” from TM “KALYUS WINERY”;
“Calvados, 42% from Ivan Gorobets.
The partners of the event are the All-Ukrainian Association of Winemakers and Sommeliers, the House of Ukrainian Wine and the Public Union Ukrsadvynprom, which actively support the revitalization of domestic winemaking and expansion of its influence on the global wine market.

Information support for the event is provided by Open4business portal and Interfax-Ukraine news agency.

The special partners of the evening, Zakarpatski Kovbasy TM and Kozatski Kozyrni Cheese TM, will provide the perfect gastronomic pairings for the wines, which will help to further reveal the taste of each bottle presented.

Each participant will have the opportunity to personally taste the wines of leading Ukrainian winemakers, evaluate their character and quality, exchange opinions with other visitors and experts, and ask questions to the representatives of the producers. The seminar-tasting, which will be held at the Club of Experts, promises to be a bright event in the life of the Ukrainian wine community, bringing together wine connoisseurs, experts and producers under one roof.

In addition to supporting domestic winemaking and getting acquainted with the best samples of Ukrainian wine, the event participants will have the opportunity to engage in an important dialog about the future of winemaking in Ukraine. This includes discussing the current problems and challenges faced by the industry, sharing experiences and finding potential ways of development.

The organizers of the event hope that this initiative will not only raise the status of Ukrainian winemaking, but also stimulate the development of this industry by attracting investors’ attention, facilitating international dialogue and opening new prospects for Ukrainian wine on the global stage.

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Experts Club analyzed key macroeconomic trends in Ukraine and world – video

Kiev analytical center “Club of Experts” on its YouTube channel presented another video overview of the macroeconomic situation in Ukraine and in the world.

In the new edition, the founder of the “Club of Experts”, Maksim Urakin, PhD in Economics, noted that since official data on the population of Ukraine is not available now because of the ongoing war, the UN estimates as of June 2023 (43.3 million people) are not completely correct.

“These estimates cannot be sufficiently accurate given the availability of other data sources, such as the Ukrainian Institute for the Future, which in its most recent study estimates the available population at 29 million inhabitants. This reflects a significant population decline of nearly 9 million over the past year, caused by the mass exodus of citizens out of the country after the war began,” Urakin noted.

Despite these challenges, the outlook for Ukraine’s gross domestic product (GDP) can be considered encouraging.

“The GDP decline in the first quarter of 2023 was down from the same period last year at 13.5%. But we foresee an overall positive trend, given the forecast of the NBU, which expects economic recovery starting from the second quarter of 2023,” said the expert.

With the increase in the negative foreign trade balance of Ukraine, it is clear that the country faces new challenges.

“In January-April 2023 the negative balance of foreign trade in goods of Ukraine increased 40 times in comparison with the same period of 2022 – up to $ 7.04 billion. This means that the cost of Ukraine to purchase the necessary goods by $ 7 billion exceeded the income from export of Ukrainian goods, “- said Urakin.

The world economy continues to show strong signs of recovery from the shocks caused by the COVID-19 pandemic. At the same time, GDP growth rates of the leading countries differ markedly.

“In the U.S., the economy is showing moderate growth of 1.3% in the first quarter of 2023, up 0.2% from what was previously reported. In China, meanwhile, GDP grew 2.2% in the first quarter of 2023, more than expected, thanks to a rebound in exports and consumer spending. The volume of China’s digital economy in 2022 also increased significantly – by 10.3% to 50.2 trillion yuan ($7.25 trillion), indicating the increasing role of the digital economy in the country’s overall economic growth,” said Maxim Urakin.

The expert stressed that despite different levels of growth, it is clear that the economies of different countries are still struggling due to the effects of the pandemic and global uncertainty. However, they continue to adapt and strengthen, as evidenced by this latest data.

Watch the full video on YouTube at the link:

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“Experts Club” held a seminar to teach journalists basic first aid skills

The analytical center “Club of Experts” in Kiev within the framework of the initiative on training of journalists in basic skills of rendering the first pre-medical care has held the first seminar-workshop. The event was organized by the Club of Experts, the Adonis network of medical centers, and “Help For Ukraine” Charitable Foundation, “Hromada Priirpenia Foundation” Charity Foundation; the information partner – “Interfax-Ukraine” and Open4Business portal.

The seminar was attended by the representatives of mass media from different regions of Ukraine, whose work is connected with risk and possibility of facing emergency situations. According to the participants, mastering basic first aid skills can be of vital importance at critical times, related to their professional activities in wartime conditions.

The seminar’s keynote speaker, Adonis Medical Group anesthesiologist Mariana Bolyuk, is the co-author of 12 scientific publications and has a wealth of experience in the medical field. In her presentation, she covered important aspects of pre-medical care, including algorithms for basic life support, types of bleeding and how to stop it. Practical techniques, such as determining the pulse on main arteries and applying a turnstile, were also practiced at the seminar.

According to Maxim Urakin, organizer of the seminar and founder of the “Expert Club,” in the current situation it is important to develop first aid skills among journalists because the role of their profession and the risk they face daily has increased significantly in war conditions.

“According to information published in the media, since last February, 61 media workers have already been killed and about 500 more journalists have been wounded. Therefore, we are deeply aware of the importance of training journalists in basic first aid skills. Our colleagues constantly face risks and have the responsibility of informing the public under difficult conditions. Therefore, we should strive to provide journalists not only with information, but also with the means to preserve and protect their lives and health,” Urakin emphasized.

In the future, the organizers of the seminar plan to develop this training project, covering more media representatives and expanding their knowledge and skills in first aid. Journalists with a basic knowledge of premedical care will be able to act more effectively in difficult situations, contributing to quick and effective aid to victims. First-aid training for journalists in the future must become an integral part of their professional training and responsibility to society. According to the organizers, it is important to support and develop such initiatives in the future so that journalists are prepared for emergencies and contribute to general safety and well-being.

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In Kiev will be held training workshop “First pre-medical aid in injuries and trauma for journalists”

On Thursday, June 8, Kyiv will host a workshop entitled “First Aid in Case of Injuries and Traumas”. It is intended for media representatives who will be able to master the basic skills of first aid in case of injuries and traumas.

The keynote speaker at the seminar will be Mariana Bolyuk, an anesthesiologist and representative of the Adonis Medical Center Group. She is a co-author of 12 scientific publications and has extensive experience in the field of medicine.

The organizers of the seminar attach great importance to this event and provide an opportunity for journalists to gain the necessary knowledge to provide first aid. Participation in the training will allow journalists to respond more effectively to emergencies and act professionally in case of injuries and traumas.

According to Maksym Urakin, co-organizer of the training, media workers are more often involved in emergencies, so the organizers are trying to hold such events on a regular basis to save lives.

“In total, 61 media representatives have been killed during the conflict. In addition, according to media reports, about 500 journalists have been injured or traumatized to varying degrees since the beginning of the war. With the help of our trainings, we are trying to save lives and health of citizens,” said Maksym Urakin.

The seminar was organized by the Kyiv-based think tank Club of Experts; Adonis, medical partner; Help For Ukraine Charitable Foundation; Pryirpin Community Foundation, general partner; Interfax-Ukraine and Open4Business, general media partners.

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Macroeconomic Indicators of Ukraine from Club of Experts in March-April 2023

The main macroeconomic indicators of Ukraine testify to the increasing role of international structures in keeping Ukrainian economy in operating mode.

The International Monetary Fund, which earlier estimated the dynamics of the Ukrainian economy this year from 3% of its decline to 1% of growth, is inclined to the fact that GDP growth in 2023 may be at the upper limit of this range. At that, as the head of the National Bank Andrey Pyshnyy said, the negative scenario of Ukraine’s GDP fall by 10% this year and 2% next year, contained in the EFF program, confirms the IMF readiness to support Ukraine even in the worst case scenario.

The World Bank estimates that Ukraine’s GDP may grow by 0.5% in 2023 and by 3.5% in 2024 after falling by nearly 30% (29.2%, to be exact) last year. At the same time, the World Bank in January 2023 predicted rapid growth of Ukrainian GDP: by 3.3% this year and by 4.1% next year.

The International Monetary Fund in its April review of the global economy (World Economic Outlook: A Rocky Recovery) once again abandoned its forecast for Ukraine beyond 2023, although in the EFF program approved at the end of March it gave a forecast until 2027.

Ukraine’s real gross domestic product, after growing by 3.4% in 2021, fell by 29.1% in 2022 due to full-scale Russian military aggression, such official data was released by the State Statistics Service of Ukraine.

The National Bank of Ukraine improved its forecast for the growth of gross domestic product of the country in 2023 to 2% from 0.3% in the January forecast, which is largely due to the reduction of security risks, the restoration of the energy system, as well as soft fiscal policy.

International rating agency S&P has affirmed long-term issuer credit ratings of Ukrainian capital Kiev in foreign and national currency “CCC+” with a stable outlook, indicating that the city has demonstrated good financial performance in 2022, despite the difficult environment.

The founder of the Kiev analytical center “Club of Experts” drew attention to a significant reduction in the foreign trade balance of Ukraine. “The negative balance of Ukraine’s foreign trade in goods at the beginning of 2023 increased by more than 3 times and amounted to almost $4 billion, we will watch the next months, but if this trend persists until the fall of 2023, the country may face a strong imbalance of the main macroeconomic indicators,” – said Maksim Urakin.

According to the authorities, in January-February 2023, Ukraine’s foreign trade deficit with goods increased 3.4 times compared to the same period of 2022 – up to $3.713 billion from $1.083 billion.

At the same time, the state budget deficit of Ukraine in March 2023 decreased to 59.2 billion UAH from 88.8 billion UAH in February, including the general fund deficit to 72.6 billion UAH from 93.2 billion UAH.

State budget expenditures for support of the AFU in the form of purchase of military equipment, weapons, ammunition, defense products, and personal protective equipment, amounted to UAH 34.4 billion in March (15.3% of total expenditures), compared with UAH 31.9 billion in February (14%), and UAH 28.7 billion in January (15.6%).

Ukraine’s public debt and publicly guaranteed debt in 2022 increased by $13.4 billion to 78.5% of GDP by the end of 2022 from 48.9% in 2021.

According to the National Bank, the deficit of Ukraine’s consolidated balance of payments in February was $722 million after a surplus of $1.208 billion in January, but the deficit is 2.1 times smaller than in February 2022, when it was $1.52 billion.

International reserves of Ukraine as of April 1, 2023, according to preliminary data, amounted to $31.878 billion, which is 10% or $3 billion more than in February 2023, it is connected with significant receipts from international partners of Ukraine.

Consumer price growth in Ukraine accelerated to 1.5% in March 2023 from 0.7% in February and 0.8% in January. At the same time, inflation in April 2022 was 3.1%, so in annual terms in April 2023 it decreased to 17.9% from 21.3% in March, 24.9% in February and 26.6% in December. Core inflation in the past month also fell to 0.5% from 1.5% in March, returning to the level of February.

Ukraine from the beginning of 2022/2023 marketing year (MY, July-June) to April 10 exported 38.82 million tons of grains, including 22.86 million tons of corn (58.9% of total supplies), 13.34 million tons of wheat (34.4%) and 2.3 million tons of barley (5.9%). Further exports of oilseeds and grains largely depend on the extension of the so-called “grain deal”.

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Experts analyzed pre-election situation in Turkey and Ukrainian-Turkish relations

A new video on YouTube channel of the analytical center “Club of Experts” examined the options for the upcoming presidential and parliamentary elections in Turkey. Ukrainian experts expressed their opinions and gave forecasts regarding the political situation in this country.

Mohammad Farajallah, editor-in-chief of the Internet publication “Ukraine in Arabic,” stressed that the upcoming elections in Turkey are of great importance for the region and arouse the interest of the international community.

“Turkey is an important player on the world stage, and its domestic policy directly affects the situation in the region and beyond. Therefore, the results of the elections will be monitored with great attention,” he noted.

In turn, the founder of the Club of Experts, Maksim Urakin, Ph.D. in Economics, shared his vision of possible scenarios after the elections. He stressed that there are two main political forces fighting for leadership in Turkey: the Justice and Development Party (AKP) led by President Recep Tayyip Erdogan and the Republican People’s Party (CHP). Kemal Kılıcdaroğlu, allied with five other opposition political forces.

“Two scenarios are possible. If the AKP wins, we can expect a continuation of the policies Erdoğan has pursued in recent years, with a focus on enhancing domestic stability and strengthening Turkey’s position in the international arena. On the other hand, if the CHP wins, we may see a more pro-Western orientation and increased cooperation with the European Union and the United States,” the expert said.

According to Urakin, a win for either candidate in the first round is unlikely, and the winner of the presidential race will most likely be determined by a second ballot.

Both experts also noted the significance for Ukraine of the election results in Turkey.

“Ukraine has close economic and political ties with Turkey, so the election results will have a direct impact on our relations and cooperation. Over the last year, as a result of the war, trade turnover between our countries has decreased, but I believe that if the current political course is maintained, we can expect further development of trade and economic relations between Ukraine and Turkey,” said Maxim Urakin.

In addition, the expert cited statistics on exports from Ukraine to Turkey in 2022, according to which it has decreased significantly.

“Last year, the volume of Ukrainian exports to Turkey was about 3 billion dollars as opposed to more than 4 billion in 2021, that is, we see a drop of 29%,” Urakin said.

According to Mohammad Farajallah, in the current geopolitical situation Turkey is an important partner of Ukraine in various spheres, which include both military support (UAV Bayraktar, light armored vehicles) and cooperation in economy, energy and other spheres.

The expert also suggested that if the opposition wins, Turkey is more likely to join sanctions against Russia.

“Naturally, the new government will be as close to the West as possible and can be included in a common unified Western policy against Russia. This, of course, will be to our advantage. But these are just preliminary words for now, perhaps they (the opposition – ed.) will come, look at the numbers and continue Erdogan’s current policy,” said Farajallah.

It should be noted that on the eve of the voting, Erdoğan lags behind his main rival Kılıçdaroğlu by more than 5%, according to a poll published by the Turkish sociological center KONDA on May 11.

Thus, Erdoğan gets the support of 43.7 percent of respondents, while Kılıçdaroğlu gets 49.3 percent.

The poll also reveals that neither candidate gets more than 50% of the votes, which means that if these data are confirmed in the elections, the winner will be chosen in the second round, which is scheduled for May 28.

The KONDA polling service conducted personal interviews with 3,480 people in 35 provincial centers.

At the same time, according to other surveys, in particular the Istanbul-based Center for Operational Social Research (Yöneylem), Erdoğan’s party was supported by 35.2% of voters in the parliamentary elections and Kılıcdaroğlu’s CHP by 30.7%.

For more on Turkey’s elections, see the video:

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