Effective responses to the economic challenges posed by the global COVID-19 pandemic: Uzbekistan's experience

The global pandemic COVID-19, which started in 2020, has become a real challenge for the economies of many countries. In 2023, experts continue to search for effective solutions to overcome the economic impact of the crisis. However, given advances in medicine and vaccine development, the scientific communities, governments and the business community at large have become more optimistic about the future. One of the main strategies that have been adopted is to support various programs and activities aimed at supporting small and medium-sized businesses, as well as stimulating economic activity in general. Experts from different countries approach the problem in different ways according to the specific situation of each country. In some cases, countries reduce budget expenditures for non-priority infrastructure projects and transfer them to support business and social programs. In the context of coping with the economic consequences of the COVID-19 pandemic, the Republic of Uzbekistan has taken a number of measures aimed at supporting its citizens and businesses. Measures have been implemented to stimulate employment, small and medium-sized businesses, and tax measures have been thought through, which have helped to reduce the tax burden on entrepreneurs. Moreover, many experts note that the pandemic has accelerated the digitalization of various sectors of the economy. These trends can contribute to economic growth in the future if this resource is properly used. Overall, government support and measures taken by the business community will play a key role in overcoming the economic consequences of the COVID-19 pandemic. However, if we are to succeed, we must continue to work together and adopt new and improved approaches in this environment.