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 percent in 2021
and at an average of 4.8 percent in 2022-2023.
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Source: MTI
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1 Comment
The “orthodox” policies followed by the rest of the world have failed in a massive way.
Inflation across the world is about to soar high as govts try to inflate their way out of borrowing too much.
Greece is still in a vicious downward cycle as a result on German imposed austerity. You could also argue it is Germany’ own fault as they followed the “Orthodox ” way of responding to the Greek Euro problem!
Italy, a huge economy, has still not recovered from the 2008/2009 crash The economy is still smaller than 2008! So much for the safety of the Eurozone and the “orthodox” policies causing this problem!
Hungary should be congratulated for trying new policies. We do not know if they will be successful but it is clear the “orthodox” way has failed!