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 ...

Qatar Capable of Overcoming Siege Challenges
Qatar affirmed its ability to overcome the challenges of the...
Apple Inc won guarantees from the Trump administration that its lucrative iPhones would ship from China  without being subject to tariffs.
Big companies in the United States from Amazon.com Inc to...
Japan Inflation Inches Higher
Japan’s inflation picked up slightly in June, largely because...
State-Actors Likely Behind Singapore Cyberattack
State-actors were likely behind Singapore’s biggest ever...
Today, income inequality in the US is greatest among Asians. Asians displaced blacks as the most economically divided racial or ethnic group in the US.
The rich are getting richer and the poor are getting poorer in...
S&P Affirms Russia’s Stable Outlook
Standard & Poor’s said in a statement on Friday that it...
Argentina Making Fiscal Progress
Argentina is “unequivocally” making progress on its goals to...
US Tariffs to Cost Germans $23b
US President Donald Trump’s tariffs will lead to a drop in...