But the K&H CEO is not the only one optimistic about the economy.

“Hungary’s economic-sentiment index was positive in April for the first time in almost 16 years as business confidence grew and consumers became less pessimistic after Prime Minister Viktor Orban won a second four-year term,” Bloomberg reported yesterday. According to an annual survey carried out by the German Chamber of Commerce, German investors’ confidence in the Hungarian economy has also improved.

S&P just upgraded Hungary’s credit rating outlook earlier this month from negative to stable and for 2014 many expect growth to top 2 percent for the first time since the financial crisis. Hungary’s treasury bill auctions still attract high demand (even long-term) despite the record low yields and the regional conflicts in Ukraine. In February, Hungary ranked second in the EU for construction output growth, year-on-year at 28.3 percent.

All are signs of a recovering Hungary, regaining market trust. An upgrade from the credit rating agencies would be market morale booster and a well-deserved recognition for all parties – the Hungarian people, the international businesses and investors in Hungary and the regulators – of the potential to overcome the crisis and rejoin the growth path after narrowly avoiding a Greek-like crisis and enduring such bleak economic times.

By Ferenc Kumin

Source: A Blog About Hungary

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