41934
Fitch Reviews Hungary Rating
World Economy

Fitch Reviews Hungary Rating

Fitch rating agency will release its review about the Hungarian economy and sovereign debt late Friday, FXStreet reported. The current rating is BB+ with a positive outlook, which was modified from stable one year ago. Although there were some expectations already in November that Hungary might get the investment grade back, now it looks like that it won’t happen now. The main reason is that the government plans some fiscal loosening for next year and the structural fiscal balance is already deteriorating. Also the first quarter’s GDP growth was extremely weak, the second worst in EU after Greece performance. The figure highlights how dependent the economy is on the EU funds flows and vehicle production. The last days’ market movement suggests that the bigger surprise would be if Hungary gets back the investment grade, so in that case the forint may strengthen while yields may drop.

 

Short URL : http://goo.gl/v4O7wn
  1. http://goo.gl/aPc91C
  • http://goo.gl/GVpnXw
  • http://goo.gl/UtH68v
  • http://goo.gl/oKSLdk
  • http://goo.gl/fkyfBx

You can also read ...

Pakistan to Be Placed Back on FATF List
Pakistan will be placed back onto an international terrorism-...
US Presses India to Cut Tariffs
US businesses and diplomats are pressing India to cut tariffs...
Cybercrime cost has jumped by $155 billion since 2014.
Global businesses are losing the equivalent of nearly 1% of...
UAE Inflation  to Rise to 3.3%
Inflation is expected to rise to 3.3% in the UAE as the 5%...
The ECB expressed more confidence that inflation would converge over time to its 2% target.
Released within 24 hours of each other this week, the minutes...
Turkey will have the widest current account deficit this year at 4.5% of GDP, followed by Argentina and Colombia.
As the US and European countries embark on a monetary...
Nigeria Bank Sees Faster Growth
Nigeria’s biggest bank by revenue expects lending to...
Europe’s main London, Frankfurt and Paris markets barely budged in early moves.
A stronger dollar and slightly higher global borrowing costs...

Trending

Googleplus