This is how Fitch sees Hungary’s economy

Fitch Ratings affirmed Hungary’s ‘BBB’ investment grade rating with a stable outlook at a scheduled review on Friday.

“Hungary’s ratings are supported by strong structural indicators relative to ‘BBB’ peers and by its record of stable economic growth fueled by investments,” Fitch said. “These are balanced against high public debt, a record of unorthodox fiscal-and-monetary policy moves, and a worsening of governance indicators in recent years,” it added.

Fitch said the stable outlook reflects its expectations of sustained economic growth, gradual improvement in external balances and fiscal consolidation resulting in an improvement of the state debt ratio in the next three years.