Kazakhstan approved a package of urgent measures to support small and medium sized businesses and help them recover from the COVID-19 pandemic, total.kz reported.

The measures were approved on March 4 at a meeting of the state commission for the restoration of economic growth, attended by Minister of National Economy Asset Irgaliev, Chairman of the Board of Atameken NPP Ablai Myrzakhmetov, Chairman of the Agency for Regulation and Development of the Financial Market Madina Abylkassymova and First Deputy Prime Minister Alikhan Smailov.

The package of 24 measures was set out following a survey of more than 50,000 entrepreneurs. It aims to reduce the burden on business, expand access to financing, boost demand in specific markets and imrpove access to high-quality human resources.

Measures include:

• expanding the list companies in affected sectors of the economy being able to access refinancing on preferential terms from 29 to 174 until June 1
• extending the exemption for affected SMEs from the accrual of lease payments for state property and property of the quasi-public sector until July 1
• extending  the property tax exemption until the end of 2021
• extending the moratorium on the bankruptcy of legal entities and individual entrepreneurs until July 1
• increasing  domestic producers’ access to public procurement