Moody’s has affirmed Hungary’s investment grade rating in spite of the crisis caused by the war and sanctions.
The finance ministry noted in a statement that Moody’s had affirmed Hungary’s Baa2 sovereign rating with a stable outlook. Moody’s delivered a positive assessment of the Hungarian economy’s return to a path of high growth next year, while the government significantly reduces the budget deficit and public debt levels, the ministry said. The rating agency expects Hungary’s economy to grow by 3% in 2024 on the back of strong exports, a high investment rate and a pickup in consumption supported by increasing real wages, it added. Moody’s pointed to Hungary’s skilled labour force, competitive tax system and developed infrastructure as factors underpinning the growth outlook, the ministry said.
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