August 16, 2019 / 8:41 PM / 4 months ago

Fitch affirms Hungary's rating

Aug 16 (Reuters) - Global ratings agency Fitch on Friday affirmed Hungary’s sovereign debt rating at ‘BBB’, citing strong structural indicators and more stable macroeconomic performance than peers against high general government debt.

Fitch also maintained Hungary’s outlook at stable.

The agency, however, said it expects a gradual slowdown in the country’s economic growth, considering challenging external environment and rising domestic capacity constraint.

Hungary’s foreign currency debt has significantly decreased in recent years, as the government shifted debt financing towards domestic issuance. This, coupled with a current account surplus has reduced the economy’s vulnerability. (Reporting by Shivani Singh in Bengaluru; Editing by Maju Samuel)

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