Kaza­khstan's Sov­er­eign Credit Rat­ing Up­graded Higher in In­vest­ment Grade

The Diplomatic Insight - - Editor’s Desk -

Stan­dard & Poor's up­graded Kaza­khstan's sov­er­eign credit rat­ing higher into in­vest­ment grade on Novem­ber 7, fore­cast­ing that ris­ing oil ex­ports will al­low its econ­omy to grow around6% un­til 2014. The rat­ing­was up­graded due to Kaza­khstan's pru­dent fis­cal pol­icy and con­sis­tently high for­eign direct in­vest­ment in­flows that will av­er­age 4% of GDP, S&Psaid. The up­grade re­flects S&P's view of Kaza­khstan's im­prov­ing fis­cal and ex­ter­nal flex­i­bil­ity as a result of its not­ing that the coun­try is the world's largest ura­nium pro­ducer. S&P raised Kaza­khstan's rat­ing to BBB-plus, or two notches into in­vest­ment-grade ter­ri­tory, from BBB. The out­look on the new rat­ing is sta­ble. In Oc­to­ber, the World Bank also raised Kaza­khstan in its Do­ingBusi­ness re­port 11 places up to the 47th place. The re­port re­flected the coun­try's strong progress in pro­tect­ing

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.