Fitch affirmed Kazakhstan's ratings at BBB with a stable outlook

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The international rating agency Fitch affirmed the ratings of Kazakhstan at the level “of BBB”, reporting on a “stable” outlook on the ratings. The agency pointed to strong state and external balance sheets of the country. At the same time, experts see risks to the economy of Kazakhstan in its dependence on the commodity sector. They also note the weakness of the banking sector and the need to strengthen domestic consumption. Fitch predicts that in 2018 Kazakhstan's economy will grow by 3.8%, provided that the favorable situation in the oil and gas and mining sectors persists, investment in these sectors will increase, having a positive effect on the construction and logistics sectors.

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