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S&P projects Hungary’s midterm economic growth to 2.5%

S&P projects Hungary’s midterm economic growth to 2.5%

BUDAPEST: Standard & Poorʼs raised its projection for Hungaryʼs mid-term GDP growth to 2.5% from 2%, in accordance with the Hungarian government’s projection for this year, however, Hungary’s Economy Minister Mihály Varga foresees that the growth rate could reach 2.8%-2.9%, Hungarian news agency MTI said.

Standard and Poor’s put Hungaryʼs Banking Industry Country Risk Assessment (BICRA) score at 8 ˜ – the same as Croatia’s and Slovenia’s – which is at the weak end of the scale, S&P’s report on the banking sector in Central and Eastern Europe published yesterday reveals. Poland received a rating of 5 and Bulgaria 7, while the banking sectors of Slovakia and Czech Republic were given the highest scores, both 4.