Standard & Poor’s Affirms Kazakhstan’s Sovereign Credit Rating
The Ministry of National Economy of the Republic of Kazakhstan has announced that the international rating agency Standard & Poor's has reaffirmed Kazakhstan's sovereign credit rating at “BBB-/A-3”, with a “Stable” outlook.
Key factors contributing to the maintenance of the country’s rating include the stability of Kazakhstan’s fiscal and external balances, which provide ample reserves to mitigate potential external risks.
S&P analysts anticipate that Kazakhstan’s economy will continue to maintain a significant surplus of liquid external assets over external debt in the coming years.
The agency’s report highlights economic growth driven by various sectors including construction, industry, trade, and information and communications.
Moreover, analysts acknowledge the Kazakh Government’s proactive measures, such as infrastructure development and ongoing diversification efforts.
Looking ahead, S&P expects that ongoing economic reforms and prudent government spending will contribute to reducing the budget deficit from 2024 to 2027.
The Government of the Republic of Kazakhstan remains committed to actively preserving the country’s sovereign rating at an investment-grade level, signaling its dedication to maintaining investment reliability.
