Reuters: Fitch does not expect change to Hungaryʼs rating


International agency Fitch Ratings does not expect a change in Hungaryʼs sovereign rating in the short term, Fitch told international news agency Reuters in an email prior to a review scheduled for May 22. Reuters said that Fitch has rated Hungary BB+, one notch below investment grade, with a stable outlook. 

"The external front is where we are seeing the main improvements. Thanks to private sectorʼs external debt de-leveraging and high current account surpluses since 2010, net external debt is rapidly falling. This is a clear positive trend for the rating," Fitch told Reuters.

"The recent agreement with the EBRD to bring the banking sector regulation in line with international best practice is a good signal. But we would like to see more tangible evidence of improved/more stable business environment in practice," Fitch said.

"We believe Hungary will be able to maintain a deficit below 3% of GDP in the medium term. However, this might not be enough to ensure a sustained fall in the level of government debt as a percentage of GDP," Fitch told Reuters.


Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.