Beyond COVID-19 Prospects for Economic Recovery in Central Asia / OECD.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, author, issuing body.

Language:

English

Subjects (All):

Economic development--Periodicals.

Economic development.

Physical Description:

1 online resource

Place of Publication:

Paris : OECD Publishing, 2021.

Summary:

The arrival of the COVID-19 pandemic in Central Asia in early 2020 had a profound social and economic impact on a region still recovering from the effects of the 2008-09 Global Financial Crisis and the 2014-15 commodity price shock. Structural weaknesses linked to both public- and private-sector capacities rendered the Central Asian countries particularly vulnerable to both the economic and public-health impacts of the crisis. In the short-term social and economic recovery will depend on the effectiveness of vaccination campaigns and support measures, but longer-term prospects will require steps to address these weaknesses. An ambitious reform agenda aimed at strengthening the foundations for a private sector-driven recovery is essential. Improvements to the business climate need to be complemented with measures to address longer-term challenges such as digitalisation and climate change. Prospects for recovery in Central Asia will therefore depend on the ability of governments to turn the crisis into an opportunity for deeper reform implementation. This report, part of an ongoing project co-financed by the European Union, explores the macro-economic impacts of the pandemic on the economies of Central Asia and assesses the overall policy responses of governments, including the factors affecting their policy options. The report then identifies four priority policy areas for a strong economic recovery: public revenue management, the business climate, digitalisation, and the green transition. It also explores one specific way to ensure that policies reflect needs of business through an analysis of the contribution of business intermediary organisations (BIOs) to private-sector recovery. It offers specific policy recommendations on these priorities for the region.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-44291-X