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Hungarian economy to face challenging times

Hungary may have to face serious challenges, if its external capital sources are cut off, an analysis by financial analyst Standard & Poor’s stated Wednesday.

Standard & Poor’s examined how the countries of its survey may be affected by a longer decline of the American economy or a global setback on loan markets. Among the four large emerging areas, Eastern Europe was the only one, that produced a total current account deficit of almost $50 billion, a sum that may double this year, S&P said. Thus, countries like Hungary and Turkey, that need much external financing in government bonds may have to be even more stringent in their financial policy, S&P said. Hungary is one of the most sensitive countries in the region, along with Latvia, Estonia, Kazakhstan and Georgia. (Gazdasági Rádió)