Moody’s Investors Service (Moody’s) report recently changed Kazakhstan’s rating outlook from ‘negative’ to ‘stable’. In addition, Moody’s confirmed the issue and senior unsecured ratings as well as senior unsecured medium-term note (MTN) rating of Kazakhstan at Baa3.The Baa3 credit rating includes such strengths as a relative large size of the economy, high per capita income levels, high debt affordability and low level of public debt along with significant fiscal reserves. It also takes into account weaknesses, such as low institutional strength and high proportion of foreign currency government debt.
Though the report recognises the rating may be subjective due to its outlook to the future, it still allows investors to gauge economic and investment potential in each country.
economy
RoK MoF State Revenue Committee 2015 Activity Results
As part of the execution of the proceeds plan to the state budget by the end of 2015, the Committee provided plan implementation by 108% or received 371.2 bln. KZT more (planned 4,538.1 bln. KZT, revenues 4,909.3 bln. KZT).
Particularly:
Republican budget (RB) fulfilled by 110.9% (plan – 3,029.6 bln. KZT, actual – 3,358.4 bln. KZT, 328.8 bln. KZT more);
Local budget (LB) fulfilled by 102.8% (plan – 1,508.5 bln. KZT, actual – 1,551.0 bln. KZT, overfulfillment amount 42.5 bln. KZT).
There are positive results in administration of indirect taxes.
VAT on products in domestic consumption (PDC) gross inflow (actual + refund) is – 897.4 bln. KZT, increase in comparison with 2014 by 8.7% (2014 – 825.7 bln. KZT).
Wherein VAT refunded 1.5 times more than in 2014 (2015 – 620.4 bln. KZT, 2014 – 416.9 bln. KZT).
Excise income are 161.1 bln. KZT (on PDC – 100.3 bln. KZT, import excise – 60.8 bln. KZT), in comparison with 2014 growth rate is 109.6% (growth by 14 bln. KZT).
Fulfillment of proceeds plan is the result of activities conducted to enhance administration, ensure balance between necessary control level and creating favorable conditions for business, for the voluntary fulfillment of obligations.
Reade more: RoK-MoF-State-Revenue-Committee-2015-Activity-Results