International rating agency Moody’s has affirmed Kazakhstan’s sovereign credit rating at Baa1 with a stable outlook, Qazinform News Agency reports, citing the Government’s press service. The rating reflects Kazakhstan’s strong fiscal position, underpinned by low government debt, a strong capacity to service its obligations, and substantial foreign currency assets.
Together, these factors give the country greater policy flexibility and provide a significant buffer against external economic shocks. Moody’s also noted that Kazakhstan’s economy continues to grow despite lower oil production, supported by strong contributions from manufacturing, construction, transport, and other non-oil sectors.
Continued investment in digital, transport, and energy infrastructure is expected to support medium-term growth while helping diversify Kazakhstan’s economy. Moody’s expects non-resource sectors to remain the main drivers of growth. The agency also expects tax reforms to strengthen fiscal sustainability by broadening the Government’s non-oil revenue base.
Overall, Moody’s said further economic diversification, tax reform, and continued infrastructure investment should strengthen Kazakhstan’s fiscal outlook and support further economic growth. Earlier, the Eurasian Development Bank (EDB) and the Islamic Development Bank Institute (IsDB Institute) discussed expanding cooperation on Islamic finance initiatives in Central Asia.