Credit agency Standard & Poor's Global Ratings has affirmed the rating of the economy of Kazakhstan at the level of "BBB- / A-3", the forecast is "stable". In accordance with the updated estimates, the credit rating corresponds to the pre-pandemic indicators at the level of "BBB- / A-3", the forecast is "stable", despite the persistent uncertainty of the economic situation in the world and the region.
As noted by S&P Global Ratings, the measures of the Government of the Republic of Kazakhstan to contain the impact of the pandemic on the economy, as well as a high level of stability of state institutions due to the continuity of power, became the factors of stability of credit ratings.In addition, according to the agency, Kazakhstan's rating is supported by a stable fiscal position of the country and a low level of external debt. The rating agency, along with other leading international financial institutions, forecasts a sharp recovery of the national economy in the short term.
According to the agency's estimates, the GDP growth rate in 2021 will amount to 3.2%. S&P notes that the main factor for the growth of the national economy in 2021 will be the non-oil sector, including construction, agriculture and manufacturing.
Earlier, the pre-pandemic credit ratings of Kazakhstan were confirmed by credit agencies Fitch (19.02.2021) and Moody's (17.02.2021).
Reported by the Kazakhstanskaya Pravda.
