Two credit rating agencies classified Hungary as recommended for investment in the last four days.
In the past four days, two credit rating agencies have measured the Hungarian economy: first, a Japanese credit rating agency, and now Standard & Poor's found that Hungary is in the investment-grade category, said Mihály Varga in his Facebook post published on Friday evening.
The Minister of Finance emphasized: Standard & Poor's also confirms in its report that the Hungarian economy will be on a stronger growth path next year thanks to the booming consumption and stronger investments. Economic growth is expected to be 1.6 percent this year and 3 percent next year. They add that the operation of the Hungarian banking system is stable, and the reduction of the budget deficit also serves to create more space - fiscal space, financial space - for the growth of the economy.
Since the outbreak of the Russian-Ukrainian war in the recent period, nearly twenty credit rating reports have been prepared on Hungary, all of which concluded that the Hungarian economy is crisis-proof, the conditions for growth are met, and that it is in the category recommended for investment.
"Therefore, it is an important result that after the decisions and measurements of the credit rating agencies, the Hungarian economy will return this year and next year to the sustained growth where it was before Covid"
- states the head of the ministry.
Featured image: Mihály Varga/Facebook
