Fitch affirms Kazakhstan's rating at 'BBB'

Fitch Ratings, the international rating agency, affirmed Kazakhstan’s long-term issuer default rating (IDR) at ‘BBB’ with ‘Stable’ outlook.

The sovereign balance remains strong  and assets in the National Fund of the Republic of Kazakhstan (NFRK) in the amount of 43 percent of GDP at the end of 2018, Fitch said, predicting that in the end of 2019, assets in the National Fund will reach $58 million (34% of GDP).

According to Fitch's forecasts, the budget deficit in 2018 will be about 3.8% of GDP, Growth is forecast to decline to 3.3% in 2019 and to 3% in 2020.