Moody’s upgrades Kazakhstan’s outlook

The international rating agency Moody's Investors Service has raised Kazakhstan's outlook from Stable to Positive, confirming the sovereign credit rating at the level of Baa2, as reported by the press service of the country's Prime Minister. The improved outlook reflects the agency's assessment of the ongoing reforms aimed at diversifying the economy. According to analysts, the increase in resistance to economic shocks demonstrates the improvement of the country’s prospects. Overall, the rating confirmation is supported by a strong state balance sheet, a low debt burden and significant reserves in foreign currency. Additionally, the agency noted a significant increase in investment in non-oil sectors and new opportunities for Kazakhstan as a transport and logistics hub, thanks to the developing Trans-Caspian International Transport Route. In general, Moody’s analysts anticipate favorable economic prospects for Kazakhstan.

Web-editor: Aizhan