Fitch Ratings on Friday affirmed Hungaryʼs “BBB” sovereign rating, two notches over the investment grade threshold, with a “stable” outlook, Hungarian news agency MTI reported late Friday evening. While noting a deceleration in GDP growth in the second quarter, Fitch characterized growth as “still robust.”
Hungarian-founded startup Commsignia, a market leader in V2X (vehicle-to-everything) solutions, has announced the closure of an USD 11 million fundraising round led by Karma Ventures and Samsung Catalyst Fund, together with Partech, Inventure, and existing investors Credo Ventures, and Day One Capital.
A number of tax cuts and incentives to boost growth are in the focus of the 2020 draft budget that was presented to the Parliament at the beginning of June. The plans, paired with the recently introduced economy protection action plan, are aimed at safeguarding the Hungarian economy from the impact of a global slowdown.
Hungary is the 16th most endangered country in terms of damage caused by drought as a consequence of climate change, according to analytical news site Qubit.hu, citing a report by the World Wide Fund for Nature (WWF).
Unadjusted growth in Hungaryʼs gross domestic product (GDP) was 4.9% in the second quarter of 2019, shows a flash estimate from the Central Statistical Office (KSH) released Wednesday. The rate was over the 4.7% estimate of analysts polled by business news site Portfolio.hu, state news agency MTI noted.