By Madina Usmanova

Copyright trend

ASTANA, Kazakhstan, October 1. Moody’s
Investors Service has maintained Kazakhstan’s sovereign credit
rating at Baa1, with a stable outlook, citing the country’s solid
fiscal position and economic resilience, Trend reports via the Ministry of Economy of
Kazakhstan.

The rating agency highlighted Kazakhstan’s low government debt
levels, strong debt servicing capacity, and substantial fiscal
reserves, which provide a buffer against external shocks.
Additionally, Moody’s pointed to the nation’s steady economic
growth and demonstrated ability to withstand economic crises as key
supporting factors.

Moody’s also acknowledged the ongoing fiscal reforms in
Kazakhstan, including recent amendments to the Tax Code that raise
the value-added tax (VAT) rate and adjust corporate and personal
income tax policies.

Analysts expect Kazakhstan’s budget deficit to remain moderate
in 2025, with public debt continuing to rank among the lowest for
countries rated in the Baa category.

The agency further noted that continued institutional and
economic reforms could enhance Kazakhstan’s investment appeal and
accelerate economic diversification beyond current projections.

Moody’s Ratings, founded in 1909, provides impartial,
forward-looking credit risk opinions to help businesses,
governments, and financial leaders borrow or lend money. With more
than 115 years of experience, Moody’s offers highly qualified
analysts, comprehensive data, strong tools backed by innovative
technologies, and a forward-looking perspective. The entity assists
clients in accelerating value creation in this era of exponential
risk in a number of ways, including through our three cloud-based
SaaS businesses that support vital banking, insurance, and KYC
workflows: Ratings, Research & Insights; Premier Fixed Income
Research Business; Data & Information; and Decision Solutions.

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