Fitch, S+P affirm Hungary ‘BBB’ ratings with stable outlooks

Fitch Ratings and S+P Global Ratings both affirmed Hungary’s ‘BBB’ sovereign ratings with stable outlooks at scheduled reviews on Friday.

“In the absence of further significant COVID-19-related shocks,

Hungary’s economy will rebound and reach pre-pandemic real GDP levels by early 2022, sooner than most other Central and Eastern European economies,”

S+P said.

Fitch expects Hungary’s economy to contract by 5.9 percent this year, but it projects GDP growth of 5.4 percent in 2021.

• Aldi to make new hires in Hungary