The international rating agency Standard&Poor’s has confirmed the sovereign credit rating of Kazakhstan at BBB-/A3, with a stable outlook. This was reported by the press service of Kazakhstan’s government. Analysts called the strong fiscal and external balances of the economy, as well as the presence of liquid external assets, the key factors supporting the level of the country. Moreover, according to experts, the state and external balance sheets will remain stable in the short-term and will be sufficient to mitigate potential macroeconomic instability. At the same time, according to the agency, the secondary consequences of economic sanctions against Russia are surmountable and will not lead to interruptions in Kazakhstan’s access to key oil and gas export markets. According to analysts, the country’s effective macroeconomic policy will continue as part of measures to diversify the economy, develop the private sector, increase household incomes, improve the investment climate, and improve tax policy. In general, Standard&Poor's forecasts the growth of the Kazakh economy at 3.6 percent in 2022 and an average of about 4 percent until 2025.
Translation and editing by Galiya Khassenkhanova
