In line with prior expectations, the international rating agency has left Hungary’s credit rating unchanged. Standard&Poor’s has maintained the country’s stable outlook and stressed in a press release that the Hungarian economy continued to perform well, external vulnerabilities have diminished and the budget has been balanced.
S&P analysts also noted that the share of state debt held by domestic investors has increased and the proportion of forex debt has declined within the total stock of debt. These factors are improving the crisis-resistance of the Hungarian economy.
The analysis also underlined the fact that fiscal deficit has been kept persistently low, below the 3 percent threshold. Hungary’s skilled labour force and balanced export structure were also mentioned among positive features.
The Government is expecting that in 2016 at least two out of the three major credit rating agencies restore Hungary to investment-grade category.
(Ministry for National Economy)