COVID-19: a challenge for economic growth

The COVID-19 pandemic has pushed the global economy into economic decline. The Government of Kazakhstan responded quickly to contain the outbreak by acknowledging these problems at an early stage.

The Government is implementing a large-scale package of anti-crisis measures to prevent deep crisis and maintain social and economic stability and employment in Kazakhstan. 

KZT 6.2 tln, or about 9% GDP, was allocated to combat the COVID 19 impacts. And even in comparison with developed countries, this is a fairly large amount of funds. For example, G20 countries' anti-crisis measures averaged about 5% GDP, Germany - 10% GDP, Japan - 11%, and Russia - about 4% GDP.

Which industries were most affected? 

How and who does the state help in these difficult times? 

Are these measures effective?

Kuanysh Beissengazin, the Director of the Center for Macroeconomic Research and Forecasting of the Economic Research Institute (ERI), will answer these and other questions. 

Mr. Beissengazin took an active part in the development of the Concept for Kazakhstan's entry into the top 30 most developed countries in the world, the National Export Strategy, and other studies. 

He graduated from M.V. Lomonosov Moscow State University, studied for a master's degree at Bocconi University (Milan, Italy). 

Join the international online conference "COVID-19: a challenge for economic growth" next Wednesday, October 7, at 2.00 pm on the Institute's YouTube channel.