Fitch Ratings Agency has affirmed the classification of Kazakhstan’s sovereign credit rating at “BBB” with a stable outlook, according to the Kazakh Ministry of Energy.
“The main factors underpinning Kazakhstan’s classification remain its strong financial position and substantial external reserves, which have demonstrated its resilience to external shocks,” Kazakhstan’s Ministry of Energy said in a statement.
“Actions to further diversify the economy and export routes will have a positive impact on the country’s development,” the Ministry added.
Fitch Ratings Agency forecasts GDP growth of 5.1% in 2024 and 5.4% in 2025, driven by strong investment growth and other indicators.
The Ratings Agency confirmed that there is a trend in Kazakhstan towards lower inflation and the dollar and a lower risk of secondary sanctions against the Republic.
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BABA 