Fitch: Hungary's 2027 Budget Supports Euro Adoption
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9 Articles
Fitch: Hungary's 2027 budget supports euro adoption
Could Hungary really adopt the euro by 2030? Fitch sees encouraging signs in the new budget, but major fiscal challenges remain. Here's what the rating agency says. 👇 Continue reading: https://dailynewshungary.com/fitch-hungary-2027-budget-euro-adoption/
According to a new report by the international credit rating agency, Hungary's draft budget for 2027 is compatible with the timetable for meeting the euro criteria.
According to the credit rating agency, this will help meet the government's goal of the country meeting the conditions for adopting the euro by 2030.
The Hungarian government's budget draft for 2027 and the medium-term public finance deficit targets are compatible with the government's objective for Hungary to meet the conditions for joining the euro area by 2030, Fitch Ratings says in its new situation assessment presented in London.
The credit rating agency expects a slightly larger budget deficit for 2027 than the government, and has identified risks and uncertainties in the cabinet's plans, but sees a deficit below 3 percent as achievable by 2030. The direction of the change in the rating, which is teetering on the brink of collapse, will be determined by the government's ability to implement the 2027 budget, so a substantive rating move will not be made this December, bu…
According to London experts, Hungary will meet the conditions for adopting the euro by 2030 and can join the currency union. The post Credit rating agencies say Hungary is on track to join the eurozone in 2032 first appeared on 24.hu.
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