The Consequences of the Covid-19 Pandemic for the Kazakhstani Economy and the Development of Business Strategies to Overcome Them

Abstract

The COVID-19 Coronavirus Pandemic, occurring on a global scale, has quite serious negative consequences for the economies of all countries. Kazakhstan's economy is also experiencing the negative consequences of forced quarantine measures, which has created an entirely new situation of characteristic economic recession, which is a serious challenge not only to governments but also to economic science. The article considers factors that have a significant impact on social and economic stability. Preventive measures to stabilise the economy and reorient business strategies to take account of new challenges are necessary to ensure this stability. The article is devoted to the problem of finding ways to manage the economy during the crisis, focused on the point impact of state regulation measures, and new strategic approaches in business. The article is several in-depth studies and publications of the authors on the problem of finding ways of economic stabilization in the regions of Kazakhstan. Priority measures of state support of business-oriented to the use of non-financial instruments are proposed, the priority of preservation and possibility of further recovery of small and medium businesses that will have an adequate impact on consumption level is justified. Several business strategies have been proposed to address this challenge during the pandemic. Their particular feature is that they provide an opportunity to prepare for business recovery in previous forms and volumes.