S&P; affirms Hungary's sovereign rating [Reuters]
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Source: Reuters
S&P; affirms Hungary's sovereign rating | Reuters Reuters Staff 2 Min Read Aug 17 (Reuters) - Ratings agency Standard & Poor's affirmed Hungary's "BBB-/A-3" credit rating on Friday, citing the country's surplus external position and substantial net foreign direct investment. "Hungary's strong external profile, its resilient export-driven economy, low private sector debt levels, and the flexible exchange rate regime support the sovereign ratings," the S&P; said. [ bit.ly/2vRi4TT ] The rating agency kept its outlook unchanged at positive. Hungary’s GDP growth rate would peak this year at 4 percent, supported by domestic demand, employment gains and the recovery of domestic credit growth, S&P; said. “The Hungarian economy has been expanding dynamically for some time now, while the budget deficit has been below 3 percent of GDP for even longer. Moreover, the government targets a balanced budget within a few years,” analysts at local brokerage Erste Investment said in a note on Friday. Hun
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