Moody’s changes outlook on Hungary Ba1 rating to stable from negative
Budapest, November 8 (MTI) – Moody’s Investor Service has changed its outlook on the Ba1 government bond rating of Hungary to stable from negative.
The agency has concurrently affirmed Hungary’s Ba1 rating, it said in a release on Friday night.
The key drivers for the outlook change have been Hungary’s improving medium-term economic outlook, the government’s commitment to maintaining the headline government deficit below 3 percent of GDP which has helped stabilize the government debt ratio, and improved resilience to external shocks, Moody’s said in its release.
Moody’s said Hungary’s economy was showing signs of stabilisation after seven years of extremely low growth, averaging -0.4 percent between 2007 and 2013. It said it expects Hungary’s real GDP growth to be around 3 percent in 2014 before falling slightly to 2.4 percent in 2015.
Hungary’s economy ministry said in response in a statement on Saturday that Moody’s positive outlook change reflected the government’ achievements in keeping public debt under control and in promoting economic growth.
Source: http://mtva.hu/hu/hungary-matters
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