International rating agency Standard & Poor’s (S&P) has reaffirmed Kazakhstan’s credit rating at “BBB-/A-3” with a Stable outlook, FChain Kazakhstan reports with citing the Ministry of National Economy. This confirms the country’s position as a nation with strong financial indicators.
Key Factors Supporting Kazakhstan’s Rating:
- Strong Fiscal and External Balances – the country has sufficient reserves to withstand external risks.
- Liquid External Assets – forecasts indicate that liquid assets will significantly exceed external debt.
- Oil Production Growth – expansion of production capacity at the Tengiz field is expected to drive economic growth.
Increasing oil production and a broader tax base are expected to reduce the budget deficit. However, this will depend on adherence to fiscal rules and limits on additional transfers from the National Fund.
Kazakhstan’s banks remain resilient to geopolitical and macroeconomic risks, maintaining sufficient capital and liquidity.
With stable financial foundations and positive growth drivers, Kazakhstan continues to demonstrate strong economic stability.
Article is prepared by Ekaterina Kassumova,
Director of FChain Kazakhstan
25th of February 2025
