THE CENTRAL ASIAN ECONOMY DURING THE PANDEMIC: AN ANALYSIS OF SMALL AND MEDIUM BUSINESS SUPPORT STRATEGIES
Keywords:
public policy, business, small and medium-sized enterprises (SMEs), COVID-19Abstract
This paper examines public policy towards small and medium-sized enterprises in the Central Asian countries during the COVID-19 pandemic. A study of analytical surveys for 2020 and 2021 produced by international organizations (such as the World Bank, the Asian Development Bank, KPMG, and the Organization for Economic Cooperation and Development), as well as of legal and regulatory documents and strategic programs adopted in the countries of Central Asia during the coronavirus pandemic, has made it possible to identify the advantages and disadvantages of government decisions regarding business and to analyze public strategies for supporting small and medium-sized enterprises.
This analysis leads to the conclusion that the potential for economic recovery in the Central Asian countries is directly dependent on the measures taken by their governments to maintain and support the business sector. In particular, the study results show that the main business support tools during the coronavirus pandemic are mechanisms such as tax holidays for businesses, soft loans, loan restructuring and refinancing, and administrative support measures.
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