MOODY'S CHANGES OUTLOOK ON KAZAKHSTAN'S RATING TO STABLE
Moody's changes outlook on Kazakhstan's rating to stable from negative, affirms government bond rating at Baa3. According to analysts, the economy, the state budget and the banking system of the country have adapted to lower oil prices. As international experts highlight, reaction of the Kazakh government to financial challenges was effective. Particularly in this context, Moody's has positively assessed the measures aimed at supporting the economic activity and increased the flexibility of the exchange rate. According to analysts, in general, it supported the economy and increased its ability to cope with changes in the future. In addition, the country's low debt burden and reserves provided enough financial space to stimulate the economy which helped to avoid a recession. The agency’s analysts also emphasize that the financial reserve accumulated in the National Fund remain high. The leading world investors highlight that the program of Kazakhstan’s third modernization proposed by President Nazarbayev will promote the country's advancement into the number of the most developed countries. The largest US investment companies are attracted by the work on digitalization of the economy and introduction of new technologies.
SANJIT DANG, INVESTMENT DIRECTOR, INTEL CAPITAL:
- The new generation that is coming up in Kazakhstan as modern dreams. We need to upscale them; we need to provide tools, skills so that they can create new innovations not just in Kazakhstan but in other points. I think future is very bright from Kazakhstan’s standpoint.