Fitch Rating has left Hungary’s sovereign credit rating unchanged, with stable outlook. In the report that has accompanied the announcement, Fitch predicts accelerating economic growth in Hungary. Expansion is expected to be driven substantially by consumption growth, which will be fuelled by the further decrease in unemployment and rising wages.

Fitch acknowledges that economic growth has not led to higher indebtedness; the budget deficit will stay below 3 percent of GDP this year and next, and the general government debt-to-GDP ratio may continue to edge lower and hit 71.1 percent by the end of 2018.

All three major credit rating agencies uphold the investment grade rating of the country’s government securities, and it proves that Hungary has been growing stronger. Market perceptions continue to be even more positive about Hungary’s economic performance than credit rating agencies and this may presage further upgrades.

(Ministry for National Economy)