PM Orbán: Hungarians have the right to know what’s going on in Brussels
“In the run-up to any election, we should clarify the facts,” PM Orbán saidRead more
Standard and Poor’s is not the only credit rating agency to have already posted positive projections for Hungary’s economy. All three major rating agencies currently have Hungary’s sovereign rating at investment grade
Mihály Varga, minister for National Economy, said rating agencies have now joined market players, the European Commission and other international organizations in confirming that the Hungarian economy is on the right track
Hungary’s economy hit the ground running this year. The major indicators are trending positive and international investors have taken note. Signs of a strong recovery, however, do not mean we can rest. Instead, said Prime Minister Orbán, it means that it’s time to dream big.
The news comes after three of the most influential credit rating agencies in the world upgraded Hungary's rating in 2016. Fitch was the first to upgrade Hungary to investment grade in May, followed by S&P in September then Moody's in November
Hungarian state debt will continue to decline this year and the budget deficit will be below the 2 percent of gross domestic product (GDP) earlier expected. Economic growth is expected to reach 2.5-3 percent in 2016
In Thursday’s print edition of the Financial Times, following Standard and Poor’s decision to restore Hungary’s credit rating to investment grade, a commentator praises Prime Minister Orbán’s “economic miracle.” Once a staunch critic of Hungary’s “unorthodox” measures to restore its technically bankrupt economy, the British daily’s admiration is the first sign that S&P’s move closes an era of doubts over whether Hungarian reforms are working.