ASTANA, Kazakhstan, February 22. The international rating agency Standard & Poor’s has confirmed Kazakhstan's sovereign credit rating at "BBB-/A-3," with a "Stable" outlook, Trend reports.
The bedrock of the country's rating is built on solid fiscal and external balances, which provide a safety net of reserves to weather any potential storms on the horizon.
Agency analysts forecast that the country's liquid external assets will significantly exceed its external debt. S&P notes that the planned growth in oil production and the expansion of capacities at the Tengiz oil field will positively impact economic growth.
The publication also highlights that Kazakhstan’s medium-term fiscal trajectory will depend on adherence to fiscal rules. It is expected that expanding the tax base and limiting additional transfers from Kazakhstan’s National Fund will help reduce the budget deficit.
S&P also emphasized the resilience of Kazakhstan’s banking
sector to geopolitical and macroeconomic risks. According to
analysts, second-tier banks have sufficient capital reserves and
stable liquidity.
Standard & Poor's (S&P, full name—S&P Global Ratings) is a
subsidiary of the American corporation S&P Global, specializing
in financial market analysis. Standard & Poor's, along with Moody's
and Fitch Ratings, is part of the "Big Three" international credit
rating agencies.