Hornung continued, “first is the implementation risk, whether the government is able and willing to implement the measures that are needed to achieve the adjustment as proposed. Second, the growth risk. The outlook is negative and reflects a certain balance of risks here which is still to the downside.”
Relating to the positive, the lead analyst of Hungary told Reuters that, “a stabilization of Hungary’s governmental strength and a decrease in its external vulnerabilities would be rating positive.”
Hungary’s fiscal proposals are aimed at cutting public debt to 50% of GDP by 2018, according to Bloomberg. Currently, Moody’s rates Hungary at Baa3 – one level above “high yield” or “junk” grade, where public debt is approximately 80% of gross domestic product.
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