Moody's Ratings affirmed Hungary's investment-grade sovereign rating at a scheduled review on Friday.
The National Economy Ministry said in a statement that all three big credit rating agencies put Hungary in the investment-grade category, thanks to the stable foundations of the country's economy.
Employment remains high, real wages are increasing dynamically, and domestic tourism should have another record year in 2025. International confidence is regularly confirmed by bond issues. Most recently, the Hungarian Development Bank's (MFB) EUR 1bn bond issue, with a 4.375pc coupon, drew significant international interest.
The government is using Hungary's resources to support families and domestic SMEs, and is working to achieve the highest possible economic growth and to improve the credit rating outlook from the current negative to stable. It is implementing Europe's largest tax reduction programme and has introduced markup caps on food and non-food products, which is expected to further increase household consumption, the ministry said.
In order to achieve sustainable GDP growth, the government aims to boost investments through expanding a scheme announced earlier to set up 100 new factories to 150 manufacturing bases and providing special support to domestic SMEs. The Demjan Sandor Programme aims to scale up SMEs with HUF 1,400bn in funding, including grants, preferential loans, a HUF 100bn capital scheme and HUF 130bn support for technology upgrades, the ministry said.