Impact of coronavirus crisis on the economy of the Republic of Kazakhstan

Abstract

Object: The crisis and the lockdown that led to a sharp reduction in businesses in various industries, sales markets, interruptions in supply chains, restrictions on the free movement of citizens. The demand for oil has decreased and world prices for it have collapsed. All these unfavorable macroeconomic factors indicate that the country is facing a crisis and a long period of recovery of various industries. In this regard, a study of the current state of the economy of the Republic of Kazakhstan during the quarantine period in connection with the COVID-19 pandemic was conducted. Methods: General scientific methods, in particular, the method of content analysis, the method of analysis, the method of generalization, the method of graphical interpretation. Results: The results of the study show that in the short term it may be more expedient for the country’s economy to give priority to the domestic economy than to the external one. In addition, from the point of view of medium- and long-term plans, it is important that Kazakhstan draws lessons from international experiences to take action on the eco-nomic recovery plan. Conclusions: The development of proposals and recommendations for medium and small businesses to overcome the economic crisis. A number of methodological, theoretical and practical issues related to the improvement of the op-erational and financial activities of enterprises during the quarantine period and the way out of the pandemic are consid-ered