News

Standard & Poor’s Global Ratings, one of the three big ratings agencies, has upgraded Hungary’s sovereign rating to "BBB," two notches over the investment grade threshold, with a "stable" outlook.

Fitch Ratings raised Hungaryʼs long-term foreign and local currency Issuer Default Ratings (IDRs) from "BBB-" to "BBB" at a scheduled review late Friday evening. The outlook for the ratings, two notches over the investment grade threshold, was given as "stable."

During the year 2018, the Hungarian Investment Promotion Agency (HIPA) supported a record number of 98 positive investment decisions resulting in the creation of more than 17,000 new jobs in the upcoming years. Out of the nearly one hundred projects the most significant ones were awarded in eight categories at the Investors of the Year 2018 Award Ceremony.

Minister of Foreign Affairs and Trade Péter Szijjártó–who inaugurated the representation–told that the reason for opening it was to keep in touch with Hungarian communities living there, to boost economic relations and to administer consular matters for people on holidays.

“Last year, Hungary set new foreign trade records. Last year was the most successful year of all time from the perspective of investment promotion; never before have so many and such high value investments been made in Hungary”, Minister of Foreign Affairs and Trade Péter Szijjártó said at a press conference in Budapest on January 3 2019.