MAEX GROUP IS DEVELOPING A MODEL FOR DYNAMIC PLANNING OF ECONOMIC DEVELOPMENT OF DONETSK AND LUHANSK OBLASTS

On March 31st, the First Deputy Minister for Reintegration of the Temporary Occupied Territories Rostyslav Zamlynskyi held an online meeting with the MAEX expert group - the developers of the model of dynamic planning of economic development of Donetsk and Luhansk oblasts.

MAEX Expert Group includes representatives from international organizations, the Ministry of Economy, scientific and educational institutions, who have obtained higher education at US universities.

Within the framework of the meeting a pilot version of the dynamic model was presented, which is being developed at the request of the Ministry for Reintegration of the Temporary Occupied Territories. Furthermore, during the meeting an overview of current and future capabilities of the model to simulate the impact of the proposed initiatives on the economic situation in the region as part of the prospects for implementation of the Strategy of Economic Development of Donetsk and Luhansk oblasts.

The model is developed on the system dynamics software with the application of the best international experience in economic modelling and allows to consider the impact of relevant factors on various sectors of the economy and the dynamic relationships between these sectors. Practical application of this model will allow to analyse and identify priority economic, legal and social initiatives, which will have the greatest positive effect on the economic growth of the region and to analyse their cumulative impact on the key indicators of the Strategy of Economic Development of Donetsk and Luhansk oblasts.

In addition to the MAEX expert group, a group of students and postgraduates of the National University of «Kyiv-Mohyla Academy» and Ivan Franko National University of Lviv, who are currently studying at the University of Bergen (Norway) under the supervision of Professor David Wheat, are involved in the development of the model.