Hungary’s ministry of economics says its efforts at shoring up the country’s macroeconomic situation have been recognized by Fitch Ratings. Hungary Today says Fitch “acknowledged Hungary’s positive undertakings” and confirmed the country’s long-term foreign currency Issuer Default Rating at BB+, while its local currency IDR remains at BBB-. Both have stable outlooks, writes the server. The agency predicts GDP growth of 3.2 percent, with a budget deficit of 2.9 percent. This should fall (along with GDP growth) in 2015. Fitch warns that unemployment could rise in 2015 by as much as 2.3 percent as the current European Union funding cycle comes to a close.
