Kazakhastan Earns Moody’s Praise For Economic Diversity

Kazakhastan has earned boundless praise from globally acclaimed Moody for economic diversity. The Moody has upgraded Kazakhastan’s long-term credit rating from Baa2 to Baa1. More importantly, the Moody has credited the country’s financial robustness with a “stable” outlook. Never before has Kazakhastan achieved the highest rating since its independence.

In a report published by the Moody on Monday, Kazakhastan’s institutional and political environment, combined with sustained economic diversification, has been acnowledged as the cause of the steady stride. Kazakhastan will soon be among the most economically stable and credit worthy nations of the world, according to the experts at Moody’s. The institutional reforms can make Kazakhastan a more attractive destination to invest. In turn, an accelerated progress of economic diversification may follow beyond Moody’s expectations.

Kazakhastan has of late reduced its economic dependence on hydrocarbons. For exmaple,the non-oil sector has grown faster than usual in the ICT, transport and manufacturing sectors, mitigating the fluctuations in oil price and production.

The rapid growth in cargo transit activity across the Trans-Caspian International Trade Route holds a big promise to change the global route to prosperity. Also known as the Middle Corridor, this route can shift regional supply chains away from Russia, something that has become interesting in the eyes of foreign investors, looking to expand in non-oil sectors – automotive manufacturing, pharmaceuticals, food industries, construction materials.