S&P Maintains Kazakhstan's Rating, Citing Economic Stability
Photo: Pixabay, illustrative purposes
S&P Global Ratings has reaffirmed Kazakhstan's sovereign credit rating at BBB- with a stable outlook, the National Bank announced, Orda reports.
This rating influences the country's ability to secure international loans.
The agency highlighted the growing contribution of the non-oil sector to GDP, along with Kazakhstan's substantial external reserves, fiscal stability, and manageable external debt.
According to the National Bank, analysts project inflation to decrease to 8.6% by year-end 2024, expecting further stabilization in deposit dollarization and the national currency exchange rate.
S&P forecasts Kazakhstan's economic growth at 4.9% in 2025 and 3.4% in 2026, driven by increased oil production, economic stimulus spending, and social security measures.
The agency also noted that the National Bank's inflation control measures and reduced involvement in economic support programs gradually improve monetary policy effectiveness.
Original Author: Raushan Korzhumbekova
Latest news
- Kazakhstan Plans New Bridge Crossing on Major Route to Russia
- Two Injured Russian Climbers Rescued From Almaty Mountains
- Kazakhstan Denies Reports of Full CPC Shutdown
- South Korea to Help Kazakhstan Forecast Demographic Change
- Almaty Waste Company Stake to Return to State After Undervalued Sale
- Inspection of Former Almaty Akim’s Family Project Declared Illegal
- Kazakhstan Could Refine Russian Oil as Russia Faces Fuel Shortages
- Who Is Behind the Company Searching for Copper Near Atbasar?
- Almaty Airport to Take Out $670 Million Loan
- Kazakhstani Woman Dies in Belgrade, Father Suspects Her Friends Were Involved
- Who Will Keep Health Coverage Under Kazakhstan’s New Rules?
- Fake Journalists Tricked Karaganda Official Into Taking Out Loan
- Pavel Durov Declared a “Terrorist” in Russia
- Lawsuit Pushes Oskemen Authorities to Adopt New Alert Rules After Kazzinc Explosion
- Emergency at Pavlodar Power Plant: Two Workers Seek Medical Help
- What Back-to-School Aid Has Been Promised to Vulnerable Families?
- Employment Falls at Kazakhstan’s Small and Medium Businesses
- How Much Will It Cost to Ride Astana’s LRT From August 1?
- KASE and AIX Record Sharp Rise in Trading Activity
- Ten-Year Record: More Kazakhstanis Are Losing Their Driver’s Licenses
