ASTANA, Kazakhstan, September 5. Standard&Poor's predicts the growth of Kazakhstan's economy at the level of 4 percent in 2023-2026, Trend reports.
The agency also affirmed the sovereign credit rating of Kazakhstan at BBB-/A-3, with a stable outlook.
The report states that the key factors supporting Kazakhstan's rating are the country's strong fiscal and external balance sheets. At the same time, net public debt is at a low level, and the state of the country's liquid external assets provides protection against external shocks.
The S&P report emphasizes that the country's fiscal and external balance sheets are sufficient to manage risk.
According to analysts, the consolidated budget deficit will decrease to an average of 1.6 percent of GDP in the period 2023-2026. At the same time, efforts to reform tax policy and administration will contribute to the government revenue growth.
Analysts also note the macroeconomic policy pursued by the Government, which is aimed at diversifying the economy through investment programs, reducing state participation, developing competition, and improving tax policy.