Moody’s Affirms Kazakhstan’s Credit Rating Amid Ongoing Reforms
Moody’s Investors Service has affirmed Kazakhstan’s sovereign credit rating at Baa1 with a stable outlook, citing the country’s strong fiscal position and resilience to external shocks.
The rating reflects Kazakhstan’s low government debt, high debt-servicing capacity, and substantial fiscal reserves, which provide a buffer against global economic volatility. Steady economic growth and the nation’s proven ability to navigate crises were also highlighted, the Ministry of National Economy reported on Oct. 1.
Moody’s pointed to ongoing fiscal reforms, including amendments to the Tax Code that involve increases in value-added tax (VAT) and adjustments to corporate and personal income taxes. Analysts expect the budget deficit to remain moderate this year, while government debt continues to rank among the lowest in the Baa-rated peer group.
Photo credit: Ministry of National Economy
