Rating of Hungary after elections

History

Moody's Investor Service will wait until after Hungary's October municipal elections to publish a review on the country's efforts to cut the budget deficit, Reuters reported late last night, citing an analyst at the agency. Moody's ruled out immediate action against Hungary and will wait for the implementation of austerity measures, mostly at the local government level, the newswire cited Moody's analyst Jonathan Schiffer as saying. As Hungary raises taxes to curb the shortfall, “the government risks jeopardizing the economy if it keeps burdening the country's private sector,” Reuters reported, citing Schiffer. Moody's rates Hungary's long-term foreign and local-currency debt at A1, four levels below the top investment grade. It cut the outlook to negative from stable on Feb. 22, indicating it is more likely to reduce the grade than leave it unchanged or raise it. (Bloomberg)

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.