– “We have some good news for this weekend, too: over the past four days, two credit rating agencies have assessed the Hungarian economy: first, a Japanese agency, and now Standard & Poor’s, which has reaffirmed Hungary’s investment-grade rating," Finance Minister Mihaly Varga said, sharing a post on his Facebook page Friday evening,
The finance minister emphasized that Standard & Poor’s report also confirms that next year, due to rebounding consumer spending and stronger investments, Hungary’s economy will shift toward a path of robust growth. The report projects economic growth of 1.6% for this year and 3% for next year. It further highlights that Hungary's banking system remains stable, and that reducing the budget deficit serves to create more room - fiscal and financial room - for economic growth, according to a release by Hungary's state news agency.
Since the outbreak of the Russia-Ukraine war, close to 20 credit rating reports have been issued on Hungary, all of which concluded that the Hungarian economy is resilient, meets growth conditions, and holds investment-grade status.
– "So it's a significant achievement that - following the ratings and assessments - Hungary’s economy this year and next is on track to return to the sustainable growth path it held before COVID,” the finance minister added.
