Ratings agency Standard and Poor’s has raised the outlook on Hungary’s long-term debt from negative to stable. The agency has taken a downgrade of Hungary’s sovereign debt off its agenda, it said. S&P also confirmed a BB/B rating for Hungary’s long- and short-term sovereign credit and improved its projections for the economy. S&P revised upward its expectations for the average growth of gross domestic product (GDP) in 2014-2015 to about 2%. It put GDP growth at 2.2% for 2014, 1.8% for 2015 and 1.5% for 2016. The government projects GDP growth of 2.0% this year.
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