portfolión ugyanez november 17-ről:

Fitch says rating on Hungary depends on PM's reform drive
Friday, 17, November 2006 01:11:00 PM

Hungary's credit rating depends on Prime Minister Ferenc Gyurcsány's ability to push his fiscal reform package, Fitch ratings agency's sovereign ratings analyst Edward Parker said on Friday.

"We think they will make some good progress but the Prime Minister's lie dented his personal authority and obviously implementing the policies are unpopular," Reuters cited Parker as telling reporters at a Fitch conference on emerging markets.

Street protests broke out in September following the leak of an audio recording in which Gyurcsány said he and his Socialist Party (MSZP) had lied for years about Hungary's budget in order to win a general election in April.

Fitch has assigned Hungary a sovereign rating of BBB+ with a negative outlook.

"The rating depends on if the prime minister can reduce the deficit and stabilise the economy. We think the government can make progress on reducing the deficit. Our central scenario remains that they reduce it from 10% (of GDP) to around 4.5% to 5% by 2008," Parker said.

"If they get it down to a more comfortable level there is the risk the zeal to get it below three percent may dissipate, particularly as the next election cycle kicks in," he added.

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