ASTANA, Kazakhstan, October 27. Moody’s has improved the outlook for Kazakhstan from "stable" to "positive", confirming the sovereign credit rating at "Baa2", Trend reports.
The improved outlook reflects the agency's assessment of ongoing reforms aimed at diversifying the economy, attracting investment and supporting entrepreneurship.
According to agency analysts, increased resilience to economic shocks demonstrates stabilization of economic development and improved prospects for Kazakhstan.
Confirmation of the rating is based on a strong government balance sheet, low debt burden and significant foreign currency reserves.
According to the agency, the significant increase in investment in non-oil sectors indicates a growing impetus for economic diversification in the current external environment.
In addition, Moody’s notes that the developing Trans-Caspian International Transport Route, which is becoming increasingly important as an alternative trade route between China and the EU, opens up new opportunities for Kazakhstan as a transport and logistics hub.
In general, Moody's analysts predict favorable economic prospects for Kazakhstan.
Changing the outlook to "Positive" is a signal of a possible increase in the sovereign rating in the future.
