Fitch Ratings and S+P Global Ratings both affirmed Hungary’s ‘BBB’ sovereign ratings with stable outlooks at scheduled reviews on Friday.
“In the absence of further significant COVID-19-related shocks, Hungary’s economy will rebound and reach pre-pandemic real GDP levels by early 2022, sooner than most other Central and Eastern European economies,” S+P said.
Fitch expects Hungary’s economy to contract by 5.9 percent this year, but it projects GDP growth of 5.4 percent in 2021.