The Fitch Ratings International rating agency confirmed the sovereign credit rating of Kazakhstan at the BBB level, the forecast “Stable”. This was reported by the press service of the Ministry of National Economy of Kazakhstan.
It is noted that among the fundamental factors supporting the rating of Kazakhstan, there are strong external buffers that significantly exceed the average indicator among countries with a similar rating and provides financial flexibility of the country.
Monetary assets of the National Fund of the Republic of Kazakhstan and official gold and foreign exchange reserves reached 38% of GDP, which contributed to investment at the level of 8.4% and an increase in gold prices.
Analysts noted steps taken to develop sectors such as transport and renewable energy, which contributes to a gradual reduction in dependence on the oil industry.
The agency also notes the relatively low risks of imposing large -scale secondary sanctions.