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Fiscal surplus will make reforms difficult for public to accept, says Moody's analyst

It will be difficult to get Hungarians to accept structural reforms with an expected general government surplus of 5-6% of GDP, Dietmar Hornung, Moody's lead analyst for Hungary, said at an event organized by the American Chamber of Commerce (AmCham) in Budapest.

Hungary is a small, open economy, which means its economic outlook and development depends on events in the European economy, Hornung said.

The negative outlook for Hungary's sovereign debt rating reflects uncertain risk projections, but is not such a strong signal as placing the rating under review, he said. (MTI – Econews)