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Moody’s backs continued reforms in Hungary

Through increasing taxes and reducing price support the budget could be consolidated, at the same time, surprisingly, the economic growth and the volume of export remained fast, credit rating agency Moody’s annual evaluation on Hungary said yesterday.

However, debt in the budget is still very high, i.e. 151% of the national revenue, almost double the 81.4% rate in the countries with the same credit rating category and debt is much higher than in the other Eastern-European countries, Moody’s emphasized. Hungary’s debt is rated A2 at Moody’s with steady prospects. (Gazdasági Rádió)