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
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