Fitch Affirms Hungary 'BBB' Rating; Outlook Stable

  • 2 Aug 2021 10:31 AM
  • Hungary Matters
Fitch Affirms Hungary 'BBB' Rating; Outlook Stable
Fitch Ratings affirmed Hungary’s ‘BBB’ sovereign rating with a stable outlook at a scheduled review on Friday.

“The ‘BBB’ ratings reflect the Hungarian economy’s strong structural indicators and record of stable growth fuelled by investment.

These are balanced against high public debt, a record of unorthodox policy moves and a worsening of governance indicators in recent years,” Fitch said.

“The Stable Outlook reflects Fitch’s expectation of a sustainable economic recovery and a mild fiscal consolidation path that would still allow the public debt ratio to fall, albeit slowly, from 2021,” it added.

Fitch put Hungary’s real GDP growth at 6.5% in 2021 and at an average of 4.8% in 2022-2023.

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