Problems of Small and Medium Enterprises in Central Asia during the Covid-19 Crisis

Authors

  • Zhanat Zakiyeva Sorbonne Kazakhstan Institute, Abai University, 92/87 Ablaikhan avenue, Almaty, 050000, Kazakhstan

Keywords:

Central Asia, small and medium enterprises, SME, GDP, economies, unemployment, poverty, anti-crisis plans

Abstract

The article is devoted to the problems and perspectives of small and medium enterprises (SME) in Central Asia in the conditions of the COVID-19 crisis.  The article presents a brief analysis of the situation in the SME sector, characterized by an increase in temporary unemployment, a sharp decline in household incomes, and an acceleration of trends towards an increase in poverty and inequality.  States have to deal with disruptions to regional ties affecting supply chains, remittances and financial flows. There are assessments of the leading international institutions - the World Bank (WB), ADB, OECD concerning the GDP losses of the Central Asian countries, including the damage caused by SME’s.  There is an analysis of the activities of SME’s in the countries of the region, the contribution of SME’s to the economies of the region. There are forecasted estimates of the decline in SME’s, the aggravation of social problems as a result of a decrease in the volume of remittances of labor migrants and an increase in the level of unemployment and poverty. Anti-crisis plans and measures of the governments of the region's countries to support SME’s are described.  The article presented conclusions and recommendations for supporting small and medium entrepreneurship.

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Published

2020-10-04

How to Cite

Zakiyeva, Z. . (2020). Problems of Small and Medium Enterprises in Central Asia during the Covid-19 Crisis. International Journal of Sciences: Basic and Applied Research (IJSBAR), 54(2), 222–229. Retrieved from https://gssrr.org/index.php/JournalOfBasicAndApplied/article/view/11717

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Articles