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  • Writer's pictureAmaury DADA

February 2021: Economic point

Updated: May 4, 2021

Hungary is rated "BBB" by rating agency Fitch Ratings. Rating reflecting the strong economic indicators of the Hungarian economy and its strong growth compared to its European neighbors fueled by numerous investments and a stable banking sector.

Hungary has withstood the health crisis better than its European neighbors (-5.1% vs. -6.4% growth on average for the EU).

The rating agency forecasts a resumption of growth of 4.9% in 2021 and 5.5% for 2022.

Despite the current health crisis, the average salary in Hungary increased by 8.8% between October 2020 and October 2021 (with inflation of 3% over the period). This increase has been constant since the start of 2013. In 10 years, the average salary has increased by 97%.

For its part, the unemployment rate stood at 4.4% at the end of 2020, an increase of 0.9% over 12 months.

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