Moody's Affirms Hungary BAA3 Ratings, Maintains Stable Outlook

  • 26 Nov 2018 9:13 AM
  • Hungary Matters
Moody's Affirms Hungary BAA3 Ratings, Maintains Stable Outlook
Moody’s Investors Service affirmed Hungary’s Baa3 ratings with a stable outlook in a scheduled review on Friday.

Moody’s said robust growth, Hungarian authorities’ continued commitment to gradual fiscal consolidation, and “overall supportive institutional capacity” were the key drivers behind the rating action.

Moody’s projected Hungary’s GDP growth would reach 4.3% in 2018 and 3.4% in 2019.

The ratings agency acknowledged the effect of government policies aimed at stimulating domestic demand and noted the positive impact recently announced investments in the automotive sector would have on growth.

However, it said that the tight labour market poses a restraint for continued strong growth.

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