KAZAKHSTAN: sovereign credit rating of Kazakhstan affirmed at BBB with a stable outlook

7 December 2022 —
The international rating agency Fitch Ratings on December 2 affirmed the sovereign credit rating of the Republic of Kazakhstan at BBB with a stable outlook, Allinsurance.kz writes with reference to the National Bank.

A strong fiscal position and significant external reserves remain as key rating factors, which have contributed to the country's resilience to external shocks. At the same time, the experts note the country's dependence on commodities, high inflation and an underdeveloped economic policy program.

Analysts at Fitch Ratings predict a peak in inflation in the first half of 2023, while expecting an average inflation of 9.5%.