Daily News Hungary

Budapest (MTI) – All of the big three credit ratings agencies recommend Hungary to investors, which demonstrates that the economy is continually strengthening, the Economy Ministry said on Saturday.

The ministry reacted to ratings agency Fitch’s Friday decision to affirm Hungary’s sovereign rating at ‘BBB-‘, just over the investment grade threshold, with the outlook for the rating being ‘stable’.

The ministry said in a statement that Fitch, too, projects accelerating economic growth and expansion supported by increased consumption thanks to the continued decrease in unemployment and higher wages. The ratings agency has acknowledged that economic growth does not involve higher indebtedness for Hungary, the ministry added.

Assessments by markets generally precede credit ratings agencies’ decisions. Since the markets are currently more positive about Hungary’s economy than the agencies, it is likely that agency ratings will also further improve in the future, the ministry said.

Source: MTI

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