Economy
Hungary EcoMin state secretary reacts to credit rating, outlook affirmation by S&P
Citing Eurostat data Orbán reminded that while debt rose in the European Union in the second quarter compared to Q1, Hungary’s debt-to-GDP ratio dropped. Only five EU member states - the Czech Republic, Germany, Latvia, Lithuania and Luxembourg - have managed to lower their debt in the April-June period, he added.Orbán added that Latvia is the only state besides Hungary that was able to lower its debt ratio since Q2 2010.
In his view, the growth turnaround in the near term will further enhance Hungary’s descending debt trend.
Good chance that negative outlook will be raised
Responding to Standard & Poor’s affirmation of both Hungary’s sovereign ratings and its negative outlook today, Orbán said that as a result of the sustainable reduction of Hungary’s debt S&P will not need to downgrade the country. He added that he sees good chances of having the negative outlook improved too.
In his view, the growth turnaround in the near term will further enhance Hungary’s descending debt trend.
Good chance that negative outlook will be raised
Responding to Standard & Poor’s affirmation of both Hungary’s sovereign ratings and its negative outlook today, Orbán said that as a result of the sustainable reduction of Hungary’s debt S&P will not need to downgrade the country. He added that he sees good chances of having the negative outlook improved too.
