The head of the EBRD suggested supporting companies with the creation of the right signals
The head of the European Bank for Reconstruction and Development for Kazakhstan, Agris Preimanis, at the Astana Finance Days 2021 online conference focused on the issue of overcoming the pandemic. According to him, it is necessary to think about how to change support programs in the direction of creating the right signals for companies, Kazinform correspondent reports .
“I would like to focus on the issue of getting out of the pandemic. During the pandemic, the role of the state has increased, especially with regard to financial support. Kazakhstan has been very successful in providing support in this regard. We saw that last year, thanks to financial support, we managed to avoid a severe crisis and extraordinary consequences for the population. The moment comes when you need to think about reducing the role of the state and reducing support. There is a great risk for many countries that people will become accustomed to the support they receive. This is spoken about everywhere. It is very important to choose the right time and way to reduce state support for companies and the population, ”said Agris Preimanis.
According to him, from European countries, Germany is a successful example.
“There was a lot of support during the crisis, now it is gradually decreasing. Companies are starting to receive the signals to increase their activities and focus more on the market approach. For Kazakhstan, there is also a question about the release time and how to reduce support programs. We know that there was a lot of support in Kazakhstan before the crisis. Probably, this crisis and its end will give an opportunity to think about how to build a support program in Kazakhstan, ”said Agris Preimanis.
He also noted that now there is an opportunity to think about those sectors that we want to support more, where we see more potential for growth. Also think about support tools. You need to think about how to change programs in the direction of creating the right signals for companies.
“For me at the moment, when we are thinking about how to get out of the pandemic, practical questions are very important: how to change the support of companies, create the right signals, distort financial markets less. In terms of vaccination, I would like to see a much higher level. I hope that those initiatives of the state - the motivation to be grafted onto the population - will yield results, because without this we cannot talk about getting out of the crisis, ”concluded Agris Preimanis.