"The ratings are supported by a robust track record of economic growth driven by substantial investments. Weak governance metrics and high public debt are credit constraints," Scope said.
Scope put Hungary's long-term GDP growth rate around 3.5%, sustained by "significant foreign investment in the automotive sector, fostering the emerging electric vehicle industry and supporting broader environmental goals".
"Substantial foreign investments in battery production are expected to attract more investment, enhance job creation, technological advancement, and bolster exports," the rating agency added.
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