Thanks to Hungary’s balanced and stable growth in recent years, Standard and Poor’s raised Hungary’s credit rating one notch higher, Minister of Finance Mihaly Varga said, commenting on the latest announcement by the agency, Kormany.hu reports.
The agency acknowledges that Hungary’s vulnerability to external risks has diminished and the government debt-to-GDP ratio has also been declining as a result of prior government measures, the minister noted, according to the government's website.
It was high time to receive the upgrade, he added, as markets had long priced in the substantial improvement in economic fundamentals.
