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S+P: "Hungary’s Small Open Economy is Steadying After Series of External Shocks"

• 10 Jul 2023 11:47 AM
• Hungary Matters

S+P Global Ratings affirmed Hungary’s BBB- sovereign rating with a stable outlook at a scheduled review.

“The stable outlook reflects our view that Hungary’s small open economy is steadying after a series of external shocks,” S+P said in the rationale for the rating action, noting a shift by policymakers to tighter monetary and fiscal settings.

The growth outlook beyond 2023 “remains healthy”, it added. The Finance Ministry said the rating action signals S+P’s confidence in the Hungarian economy.

The investment grade rating is also an acknowledgement of government measures to improve balance indicators, it added.

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