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IMF lauds Kazakhstan's economic growth and outlook in talks with PM

Published Nov 21, 2023 12:32
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In recent discussions, Nicolas Blanchet, head of the International Monetary Fund (IMF) mission for Kazakhstan, praised the country for its economic performance and underscored the importance of the private sector in driving future growth. The dialogue with Prime Minister Alikhan Smailov highlighted the strong partnership between Kazakhstan and the IMF, as well as plans for continued collaboration.

The meeting revealed several key economic achievements for Kazakhstan:

  • The country has experienced approximately five percent GDP growth over the last ten months.
  • Fixed capital investments have increased by over 12.5 percent.
  • International credit rating agencies, including Moody’s, have affirmed investment-level sovereign credit ratings for Kazakhstan, with Moody's (NYSE:MCO) also upgrading its outlook to positive.
  • The government is working on tax and budget policy reforms, which include drafting new Tax and Budget Codes aimed at supporting sustainable growth.

These developments are indicative of Kazakhstan's robust economic health and its commitment to maintaining steady progress through policy reforms and strategic investments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

IMF lauds Kazakhstan's economic growth and outlook in talks with PM
 

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