Business news from Ukraine

On November 11-12, Kyiv will host first all-Ukrainian festival dedicated to Day of Ukrainian Winemaker

On the occasion of the annual celebration of the Ukrainian Winemaker’s Day and in order to support and popularize domestic wine producers, the capital will host the first Winemaker’s Day festival, which will feature products from all over Ukraine. The event will showcase both the ancient traditions and the modern approach of Ukrainian winemaking.

“In recent years, Ukrainian wine production has begun to revive largely thanks to small wineries and wine tourism. But the war has slowed this process to a large extent. One of the ways to stimulate the country’s economy to recover is to hold events that will help popularize domestic producers among consumers,” says Volodymyr Pechko, CEO of UKRSADVINPROM.

“Most major wine-producing countries support their producers and stimulate sales both in the domestic market and for export. Ukraine will not be able to develop as a wine country without systematic state support for domestic producers. That is why I am grateful to the Ministry of Agrarian Policy for its support in organizing the festival,” said Maksym Urakin, founder of the Kyiv-based think tank Experts Club.

According to him, Ukraine can produce much more wine than it does today, but competition from imported products is high. According to the Experts Club, imported wine occupies a significant share of the Ukrainian market, accounting for about 70% of total sales in the country, while the share of Ukrainian wine is about 30%.

“Holding thematic festivals dedicated to winemaking could open up unique varieties of Ukrainian wine to consumers, which are in no way inferior to French or Italian wines,” Urakin emphasized.

In her turn, Natalia Blagopoluchna, Head of the All-Ukrainian Association of Winemakers and Sommeliers, emphasized the unique organoleptic characteristics and taste of Ukrainian craft wines.

“The diversity of our wines is the result of unique local climatic conditions and the peculiarities of the grape varieties we use. They strike with their originality, arouse admiration and stimulate bold experiments,” she said.

The festival will be held on November 11-12 at the address: Kyiv, Dniprovska embankment, 12, RIVER MALL, food court area on the 3rd floor.

The festival program includes a presentation of Ukrainian craft wines, charity auctions, master classes from winemakers, tasting sessions, cooking shows, music performances and much more.

The festival is organized by the UKRSADVINPROM public union, the Club of Experts think tank, and the Association of Winemakers and Sommeliers.

The following Ukrainian wineries will take part in the festival:

– Zelenytsy winery “Zelenytsy Family Winery”;
– Gigineishvili Wine House;
– Slyvyno Winery, a private enterprise;
– Dnipro hills (Stoic Ukrainian winery);
– Tiras Vaineri LLC;
– 46 Parallel;
– Uman Winery of Igor Maksymenko;
– Father’s wine VB;
– Falko Winery;
– Villa Tinta;
– Institute of Horticulture of the National Academy of Agrarian Sciences of Ukraine;
– Kulinichenko winery;
– Wines of the Silver Land;
– National Research Center “Tairov Institute of Viticulture and Winemaking” of the National Academy of Agrarian Sciences of Ukraine.

The event is supported by the Ministry of Agrarian Policy and Food of Ukraine.

Tickets for the event can be purchased here.


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Experts analyzed the situation in the Caucasus after end of Karabakh conflict

After Azerbaijan established control over the former Nagorno-Karabakh, the Transcaucasus region entered a new era, where the political and economic prospects of the countries of the region became a subject of discussion in the international arena. In light of this, experts from various countries are analyzing the current situation and trying to predict the future of relations between the countries in the region. A new video published on the YouTube channel “Experts club” was devoted to this very topic, in which Azerbaijani military analyst, leading expert of the analytical center “STEM” Agil Rustamzadeh and the founder of the Kiev analytical center “Experts club”, candidate of economic sciences Maxim Urakin shared their opinion on the situation.

Military-political aspect

The experts emphasize the importance of the reached mutual understanding on the Karabakh issue.

“The resolution of the conflict has created a basis for the resumption of diplomatic dialog and economic cooperation between the countries of the Transcaucasus. Azerbaijan’s confrontation with Armenia is conditioned not only by the Karabakh conflict, the point is that those people who created this geopolitical paradigm were engaged in shaping the worldview of the Armenian population. A part of the Armenian population still believes that they once had a state that included the territories of Azerbaijan, Turkey and Georgia. With the emergence of Western institutions and the change of Armenians’ views, they begin to realize that enmity with such a geopolitical player as Turkey is a dead-end way of the country’s development. It is a way to nowhere, especially when these countries have no territorial claims to you, but you have territorial claims to your neighbors,” Rustamzadeh stressed.

The expert also notes that the signing of a possible peace treaty will give Armenia an impetus to move to a new level of development, will allow it to become not an object but a subject of international politics.

“I meet such an opinion both in Azerbaijan and Turkish colleagues. It is that under certain changes Turkey and Azerbaijan can become the guarantor of Armenia’s territorial integrity. Therefore, I believe that with the pragmatism shown by the Armenian people, the government and the political elite of Armenia, Armenia has chances to become a pro-Western democratic country,” Rustamzadeh said.

In his opinion, in order to ensure long-term stability, it is necessary to analyze all aspects of the conflict and its consequences for regional security.

Economic aspect

Maxim Urakin emphasized the economic sphere of relations between the countries of the region.

“Economy and politics are closely linked, and trade relations between the countries of the Transcaucasus play an important role in shaping the political landscape of the region,” Urakin noted.

The expert also drew attention to how export destinations affect the countries’ political preferences.

“Most of Azerbaijan and Iran’s exports are directed to Europe and Asia, while Turkey’s exports are much more diversified,” the economist emphasized.

Urakin also analyzed each country’s exports and their trade relations in detail, emphasizing the interconnectedness of economic and political factors in the region.

Development Prospects

Rustamzadeh and Urakin agree that further sustainable development of the region requires further work to resolve the remaining conflict situations and increase economic cooperation between the countries.

“Restoring trust and strengthening economic ties between the countries of the Transcaucasus will contribute to the creation of a favorable climate for investment and growth of the regional economy,” Rustamzadeh concluded.

You can learn more about the prospects of development of the Transcaucasus after the end of the Karabakh conflict from the video on the Experts club channel at the link:

Subscribe to the channel here:

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Experts Club analytical center, Adonis medical group hold seminar on pre-medical care for teachers

The Experts Club analytical center and the Adonis medical group held a seminar on providing pre-medical care for teachers.

According to a press release, the workshop was designed taking into account the current situation and the importance of ensuring the safety of students and is designed to provide teachers with the necessary skills to provide first aid in the event of injuries.

“With the beginning of the new school year in Ukraine, new rules came into force, providing for different modes of education depending on the level of security in different regions. These measures were introduced in response to the high level of danger. Training teachers and educators to provide first aid to children is an important initiative aimed at ensuring safety in educational institutions,” the press release emphasizes.

Experts Club founder Maksim Urakin emphasized that teachers play a key role in the lives of children, and knowledge of pre-medical care skills is part of education, which can save lives.

In turn, Tetiana Lahovska, the executive director of the Irpin Community Foundation, which acted as a partner in the seminar, noted that “the main thing in pre-medical care is the speed of action to stabilize the victim’s condition.”

Experts Club and Adonis promise to continue to support and implement similar educational initiatives.

The training was attended by university and school teachers in Kyiv and Bucha district of Kyiv region.

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Ukraine’s international reserves fell to $39.7 bln in September

Ukraine’s international reserves amounted to $39 billion 708.2 million as of October 1, 2023, according to preliminary data, the National Bank of Ukraine said on its website Friday.
“They decreased by 1.7% in September as a result of the NBU’s interventions to sell foreign currency to cover the difference between supply and demand in Ukraine’s foreign exchange market and the country’s debt payments in foreign currency, largely offset by receipts from international partners,” the NBU pointed out.
It specified that the government’s foreign currency accounts in the central bank received $3.329 billion, of which $1.592 billion – macro-financial assistance from the EU, $1.25 billion – a grant from the United States through the World Bank Trust Fund, $386.4 million – from the placement of foreign currency bonds of the internal state loan (OVGZ) and $100 million – from the World Bank under the guarantee of the United Kingdom.
At the same time, the Ukrainian government paid $465.3m for servicing and repayment of state debt in foreign currency, of which $388.9m – for servicing and repayment of foreign currency bonds, $51.1m – debt to the World Bank. In addition, Ukraine paid $882.1 million to the International Monetary Fund.
In addition, the National Bank in September sold $2.692 billion in the foreign exchange market, having bought back only $0.7 million, and the revaluation of financial instruments (as a result of changes in market value and exchange rates) increased the value of financial instruments by $12.9 million.
“The current volume of international reserves provides financing for 5.3 months of future imports,” the NBU pointed out. Earlier, the Experts Club research project and Maksim Urakin released an analytical video about the economy of Ukraine and the world –
You can subscribe to Experts Club’s youtube channel by following the link –


Experts Club conducted a training session for teachers on pre-medical care for children

With the start of the new school year, new rules came into force in Ukraine, providing for different training regimes depending on the level of security in different regions. These measures were introduced in response to the high level of danger.

Taking into account the current situation and the importance of ensuring the safety of pupils and students, the Experts Club training and analysis center in Kyiv organized a training seminar on pre-medical assistance for teachers. The training, which took place on September 29 in Kyiv, was designed to provide teachers with the necessary skills to provide first aid in case of wounds and injuries.

The seminar was organized by the Experts Club think tank and medical partner Adonis. The seminar was also supported by the charity organization Hromada Priirpeniya Foundation and information support from Interfax-Ukraine news agency and Open4business portal.

The main presenter of the training was Maryana Bolyuk, an anesthesiologist and representative of the Adonis group of medical centers. Maryana is a co-author of 12 scientific publications and has rich experience in the field of medicine.

During the seminar, teachers and educators received not only theoretical knowledge, but also practical skills necessary to provide first aid to children in various situations. Among the main topics covered were:

1. Basics of pre-medical care: The workshop participants learned the basic principles and steps to follow when providing first aid, including assessing the situation, ensuring safety, calling for emergency medical assistance and providing emergency interventions.

2. Treating different types of wounds and injuries: Trainers learned how to properly treat wounds, stop bleeding, fix fractures, and treat bruises and sprains.

3. Pre-medical care for children: Teachers gained specialized knowledge on first aid for children, taking into account their body characteristics and emotional reactions.

4. Practical exercises: Practical exercises were an important part of the workshop, including modeling different situations and practicing first aid skills.

Training teachers and educators in first aid for children with injuries and trauma is an important initiative to promote safety in educational institutions. Experts Club and Adonis will continue to support such educational initiatives to ensure the highest level of safety in educational institutions of Ukraine.

Maksym Urakin, founder of Experts Club, emphasized that teachers play a key role in children’s lives and knowledge of pre-medical care skills is a part of education that can save lives.

“Such workshops help teachers not only feel more confident in emergency situations, but also provide them with the opportunity to teach their students the basics of first aid, which is also an important skill for everyone,” Urakin noted.

The training was attended by university professors and school teachers from Kyiv and the Bucha district of Kyiv region.
Oleksandr Golizdra, Chairman of the Committee on Information Policy and Relations with Local Authorities of the Public Council at the Bucha District State Administration, asked the participants to pass on the knowledge and skills gained to their colleagues in educational institutions.

According to Tetyana Lagovska, executive director of the Pryirpin Community Foundation, the main thing in first aid is the efficiency of actions to stabilize the victim’s condition. However, as the volunteer noted, it is also important to adhere to the principle of “do no harm,” so it is important to know what should and should not be done before the arrival of professional doctors.

The participants of the training expressed their gratitude to the organizers and the instructor for the valuable knowledge and experience gained at the training. They also emphasized the importance of such events and hope that such educational seminars will continue in the future. In addition, each participant received as a gift a fully equipped first aid kit for first aid in case of wounds.

The pre-medical care workshop for teachers was an example of how educational institutions and medical partners can collaborate to ensure the safety of students and staff. These efforts will help strengthen the education system and prepare teachers for the variety of challenges they may face in educational institutions in war.

Experts Club and Adonis pledge to continue to support and conduct similar educational initiatives, as they see them as an opportunity to make education safer and encompass not only academic but also life skills.

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Key macroeconomic indicators of Ukraine in July-August 2023 by Experts club

The article summarizes and analyzes the main macroeconomic indicators of Ukraine. In connection with the entry into force of the Law of Ukraine “On Protection of the Interests of Business Entities during Martial Law or a State of War”, the State Statistics Service of Ukraine suspends the publication of statistical information for the period of martial law and for three months after its termination. The exception is the publication of information on the consumer price index, separate information on statistical indicators for 2021 and for the period January-February 2022. The article analyzes open data from the State Statistics Service, the National Bank, and think tanks.

Demographic indicators of Ukraine
Speaking about the demographic factor in the development of the Ukrainian economy, Maksym Urakin cited the data previously announced by the Director of the Ptukha Ella Libanova Institute for Demography and Social Studies. Ella Libanova, depopulation is an inevitable scenario for Ukraine. A labor shortage is absolutely inevitable.
According to the estimates she presented at the Regional Economic Forum, as of the beginning of this year, the population in the government-controlled areas was 31.6 million people, and now it has slightly increased. Libanova pointed out that the population forecast for the beginning of 2033 within the borders of 1991 Ukraine ranges from 26-35 million people.
According to her, the potential for demographic growth has been exhausted, and this can be offset by migration.

Economic recovery
Ukraine’s real gross domestic product grew by 19.5% in the second quarter of 2023 compared to the second quarter of 2022.
“According to the State Statistics Service’s preliminary estimate, compared to the previous quarter (seasonally adjusted), GDP in the second quarter of this year grew by 0.8%,” said Maksym Urakin.
The key risk for our economy remains the longer duration and intensity of the war, as well as a decrease in the volume or loss of rhythm of international assistance, the resumption of a significant electricity shortage due to further destruction of the energy infrastructure and other risks.
Analysis of Ukraine’s foreign trade
Maksym Urakin also drew attention to the factor of the growing negative foreign trade balance, which has been observed since the beginning of the war.
“The negative balance of Ukraine’s foreign trade in goods in January-July 2023 tripled compared to the same period in 2022, to $13.8 billion from $4.315 billion. This means that the cost of purchasing the goods Ukraine needs is almost $14 billion higher than the income from exporting Ukrainian goods to other countries,” said Urakin, PhD in Economics.

Ukraine’s financial situation in 2023
However, according to the expert, no less important aspects of the economy are public debt, international reserves, and inflation.
“In July 2023, Ukraine’s total public debt increased by 3.1% to a new all-time high: by $4 billion in dollar terms, to $132.92 billion. In its inflation report at the end of July, the National Bank of Ukraine expects the public debt to grow from 78.4% of GDP to 84.6% of GDP this year, to 96.6% of GDP next year, and to 98.2% of GDP in 2025,” said Maksym Urakin.
According to the expert, the main source of funding for Ukraine’s budget is still related to foreign aid.
“Half of the budget is financed through taxes and fees, while the other half is financed through international grants and loans,” he emphasized.
“Ukraine’s international reserves declined in August and amounted to $40.3 billion as of September 1, 2023,” the analyst added.
As for inflation, it showed a slowdown.
“In August 2023, inflation in Ukraine decreased by 1.4% after a 0.6% decline in July and a 0.8% increase in June. In 2022, the annualized inflation rate was almost 27%,” Urakin said.
Thus, the economic situation in Ukraine, according to the founder of the Club of Experts, continues to be complex and multifaceted, requiring close monitoring and adaptation of strategies in response to changing conditions.

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