New report predicts accelerating economic growth in Hungary, and acknowledges that economic growth has not led to higher indebtedness.
Fitch Ratings has left Hungary’s sovereign credit rating unchanged, with stable outlook, Kormány.hu reported. Fitch predicts accelerating economic growth in Hungary, expansion is expected to be driven substantially by consumption growth, which will be fuelled by the further decrease in unemployment and rising wages.
Fitch acknowledges that economic growth has not led to higher indebtedness; the budget deficit will stay below 3 percent of GDP this year and next, and the general government debt-to-GDP ratio may continue to edge lower and hit 71.1 percent by the end of 2018.
All three major credit rating agencies uphold the investment grade rating of the country’s government securities, and it proves that Hungary has been growing stronger.
