Varga welcomes Fitch affirmation of investment grade rating

Ratings

Mihály Varga

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Finance Minister Mihály Varga welcomed Fitch Ratings' affirmation of Hungary's investment grade 'BBB' rating at a scheduled review on Friday, according to a report by state news wire MTI.

Fitch affirmed Hungary's sovereign rating, with a stable outlook, "in spite of the wartime crisis and fears of a European recession", Varga said, noting decisions by credit agencies in recent months to revise the outlooks for Czechia's and Slovakia's ratings to negative.

He pointed to Fitch's forecast for GDP growth of over 5% in Hungary this year, better than the growth seen for its 'BBB'-rated peers.

"Our goal is to preserve Hungary's economic growth in the wartime crisis, too," he added.

 

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