Makrognosis

Kazakhstan Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:KZ

Model score53 / 1009 Nov 2026
Grade equivalentBBB-model-implied
BandSpeculative grade0–100 scale, 100 = strongest
Rank63rd of 84economies scored

Makrognosis sovereign credit model scores Kazakhstan at 53 out of 100 as of 9 November 2026, equivalent to BBB- on the familiar letter scale — speculative grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places Kazakhstan 63rd of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 34.6% of GDP, a fiscal balance of −3.1% of GDP, a current account balance of −4.1% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Kazakhstan sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026444648505254Robomacro
Kazakhstan sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202653.3BBB-
1 October 202653.3BBB-
31 July 202653.3BBB-
30 July 202651.4BB+
26 July 202651.5BB+
21 June 202647.7BB+
18 June 202644.9BB
Get the Kazakhstan sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/KZ"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/KZ",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Kazakhstan, from official national and international statistics.

InputValueVintage
GDP per capitaUS$14,6922026
Real GDP growth, 5-year average4.4%2026
Inflation, recent average6.6%2026
Government debt34.6% of GDP2026
Fiscal balance−3.1% of GDP2026
Current account balance−4.1% of GDP2026
External debt62.6% of GDP2026
Foreign-exchange reserves7.4 months of imports2026
Governance (World Bank WGI composite)−0.2262026

How Kazakhstan compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
58Mexico9 Nov 202656
59Peru9 Nov 202655
60Vietnam9 Nov 202654
61Colombia9 Nov 202654
62Philippines9 Nov 202654
63Kazakhstan9 Nov 202653
64China9 Nov 202653
65Morocco9 Nov 202653
66Ivory Coast9 Nov 202652
67Ukraine9 Nov 202650
68Tanzania9 Nov 202650
69Ecuador9 Nov 202649

All 84 economies ranked →

Kazakhstan economic indicators

Kazakhstan KZT per USD, calendar-month average of the official National Bank of daily rate

FAQ

What is Kazakhstan's credit rating?
Makrognosis sovereign credit model scores Kazakhstan at 53/100 as of 9 November 2026, equivalent to BBB- (speculative grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/KZ returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.