Fitch Ratings affirmed Hungary’s ‘BBB’ sovereign rating with a stable outlook at a scheduled review on Friday.
“The ‘BBB’ ratings reflect the Hungarian economy’s strong structural indicators and record of stable growth fuelled by investment. These are balanced against high public debt, a record of unorthodox policy moves and a worsening of governance indicators in recent years,” Fitch said. “The Stable Outlook reflects Fitch’s expectation of a sustainable economic recovery and a mild fiscal consolidation path that would still allow the public debt ratio to fall, albeit slowly, from 2021,” it added. Fitch put Hungary’s real GDP growth at 6.5% in 2021 and at an average of 4.8% in 2022-2023.