In a scheduled review on Friday, Fitch Ratings affirmed Hungary’s ‘BBB’ sovereign rating with a stable outlook.
Fitch said 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. “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.