Kazakhstan

Kazakhstan's Credit Rating Upgraded Due to Economic Diversification

7 months ago

Kazakhstan's credit rating has been raised by one notch by Moody's, attributed to the country's effective economic diversification. The new rating stands at Baa2, indicating a stable financial situation and progress in implementing structural reforms. Experts suggest that this upgrade reflects an improvement in the nation’s economic resilience and its potential for sustainable growth.

Kazakhstan Considers Heftier Taxes on Banks Amid Budget Shortfall

7 months ago

Kazakhstan, facing a significant budget shortfall, is initiating discussions on increasing taxes on financial institutions. This move is aimed at attracting additional revenue for the government and improving the country’s financial position. Finance Minister Rustam Amangeldiev emphasized that in light of current economic realities, it is essential to reassess the tax policy, particularly concerning banks that possess substantial financial resources.

Kazakhstan Halts Rate Cuts After Inflation Surges

7 months ago

In recent days, the Kazakh economy has focused on measures to stimulate growth; however, unexpected changes in inflation figures have forced the central bank to pause its interest rate cuts. It was announced yesterday that inflation in the country significantly accelerated in August, raising doubts about economic forecasts and plans for further easing of monetary policy.