Preiss Maintains Buy on Kazakhstan Equities as IMF Sees 4.4% Growth in 2027
Updated
Updated · EU Reporter · Aug 18
Preiss Maintains Buy on Kazakhstan Equities as IMF Sees 4.4% Growth in 2027
1 articles · Updated · EU Reporter · Aug 18
Summary
Kazakhstan equities remain a long-term BUY for diversified portfolios, with Rainer Michael Preiss highlighting banking, energy, uranium, infrastructure and selected consumer names.
IMF forecasts Kazakhstan's economy will grow 4.4% in 2027 versus 3.4% globally, while the tenge is the world's sixth-best performing currency this year and local stocks have outpaced global equities.
Valuations are a central draw: Preiss says leading companies trade on attractive earnings multiples, generate strong cash flow and pay generous dividends, especially in the financial sector.
Halyk Bank, Kaspi.kz and Bank CenterCredit were singled out for profitability, capital strength and digital capabilities, while Kazakhstan's uranium dominance and Middle Corridor position add longer-term support.
Risks still include commodity-price swings, geopolitics, liquidity and governance standards, but substantial reserves and the National Fund help cushion shocks in an under-owned market.