Finance Minister Mihály Varga said that in spite of the ongoing crisis caused by the war, credit rating agencies Standard & Poor’s and Fitch Ratings had both affirmed Hungary’s investment-grade...
“Hungary’s ratings are supported by strong structural indicators relative to ‘BBB’ peers and by its record of stable economic growth fueled by investments,” Fitch said.
Mihály Varga said the relaunch of Hungary’s economy has gone successfully in the assessment of Fitch Ratings, which recently confirmed Hungary’s credit rating.
Fitch put Hungary’s real GDP growth at 6.5 percent in 2021 and at an average of 4.8 percent in 2022-2023.
S&P revised the outlook on its rating for Hungary from ‘stable’ to ‘positive’.
Fitch Ratings has affirmed Hungary’s ‘BBB’ sovereign rating, two notches over the investment grade threshold, with a ‘stable’ outlook.
Minister Varga noted that the economy had expanded by 4.8 percent last year, three times the European average. “Now nobody can deny that the Hungarian economy is performing ever better and can continue to expand in the coming years,” he said