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Economy in the era of pandemic: the Roscongress Foundation has prepared a review of national economic measures taken worldwide amidst Covid-19

31 March 2020
Экономика во время пандемии: Фонд Росконгресс подготовил обзор экономических мер, применяемых странами в условиях распространения Covid-19

A review of economic measures taken by the countries worldwide to support their business and citizens amidst the 2019-nCoV pandemic is now available on the ROSCONGRESS.ORG Information and Analytical System.

The research emphasizes the need for and the importance of studying world’s best practices of support of businesses and citizens that found themselves in a difficult situation due the coronavirus in order to identify optimal and most viable examples for further implementation.

“Today business is facing a recession all over the world. Nobody knows for how long these restrictions are going to be imposed as a result of the pandemic. Many countries are vulnerable and do not have reserves to provide support to everyone. We need a reasonable balance between strict quarantine measures and economic preferences. Studying anti-crisis programmes and responses by governments of different countries provides an opportunity to quickly find the best way to sustain economic stability,” noted Adviser to the President of the Russian Federation Anton Kobyakov. 

The review describes characteristics and measures of state support of people in difficult situations because of the virus and of small and medium-sized businesses; it also identifies the priority areas for improving state policies regarding the development of SMEs. The structure of the document corresponds to the spread of 2019-nCoV in the world, from the infection focal point – China in the Northeast Asia – to African countries that for a while were on the periphery of the fight against the virus. Special attention is paid to the countries that have suffered the most (Italy, Iran, the US) and that have been remarkably efficient in fighting the outbreak (Republic of Korea, Singapore). As of now, the research has covered practices of more than 20 countries. 

“Over the years of its existence, the Roscongress Foundation has brought together businesses, as well as financial, trade, and business associations from 69 countries. We maintain relations with 122 international partnersToday representatives of this community are facing a very important task – to support those in need. It is also crucial to keep track of how the whole system is changing, and what new dimensions and opportunities are becoming available for the business. I am certain that our review will prove useful for managers on any level – from micro companies to large businesses. Today, as never before, we must assess and adopt best practices,” said CEO of the Roscongress Foundation Alexander Stuglev.