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Fitch says expects Hungary to adopt euro in 2032 at the earliest

By Reuters News

Oct 27 (Reuters) - Fitch Ratings said in a note:

  • EXPECTS HUNGARY TO BE ABLE TO ADOPT EURO IN 2032, AT THE EARLIEST

  • FITCH RATINGS SEES HUNGARY ENTERING ERM-2 IN 2029

  • THIS EURO TIMELINE FOR HUNGARY IS CONDITIONAL ON SIGNIFICANT FISCAL CONSOLIDATION AND COMPLETION OF LEGAL AND INSTITUTIONAL PREPARATIONS

  • MEETING REMAINING CONVERGENCE CRITERIA - INFLATION, INTEREST AND EXCHANGE-RATE STABILITY - SHOULD BE LESS CHALLENGING

  • FITCH SAYS ADOPTING THE EURO WOULD BE POSITIVE FOR HUNGARY’S RATINGS BY REDUCING EXCHANGE-RATE RISK, STRENGTHENING EXTERNAL AND FISCAL FINANCING FLEXIBILITY, LOWER BORROWING COSTS

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