The international rating agency Moody's has improved the outlook of Kazakhstan from "stable" to "positive", confirming the sovereign credit rating at the level of "Baa2", El.kz reports with reference to the press service of the Government of the Republic of Kazakhstan.
The improvement in the forecast reflects the agency's assessment of the reforms carried out aimed at diversifying the economy, attracting investment and supporting entrepreneurship in Kazakhstan.
According to analysts, the increase in resilience to economic shocks indicates the stabilization of economic growth and an improvement in the country's prospects. This is confirmed by a strong government balance sheet, low debt load, and significant foreign currency reserves.
The Agency also notes that a marked increase in investment in non-oil sectors indicates the growing diversification of the economy in the current external environment.
In addition, Moody's points to new opportunities for Kazakhstan as a transport and logistics hub, especially in light of the developing Trans-Caspian International Transport Route, which is becoming an increasingly important alternative trade route between China and the European Union.
In general, Moody's analysts predict favorable economic prospects for Kazakhstan. The change in the outlook to "Positive" is a signal of a possible upgrade of the sovereign rating in the future if the current dynamics are maintained.
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