Hungary plans to boost its energy ties with Russia, threatening to widen the central European country’s trade gap with its second-biggest trading partner, according to Hungarian State Secretary Peter Szijjarto.
The forint headed for the longest series of weekly declines in almost 18 months and bond yields rose as Standard & Poor’s cut the outlook on Hungary’s junk- grade credit rating to negative from stable.
Hungary has “a good track record” managing fiscal crises and will take the steps needed even after a government official said the country may be at risk of defaulting, according to Moody’s Investors Service.
Hungary’s economic performance and the government’s policy measures “wouldn’t justify any kind of credit rating downgrade,” state news agency MTI said today, citing Peter Szijjarto, the prime minister’s spokesman.
Hungarian Economy Minister Gyorgy Matolcsy, who is also responsible for the finance portfolio, has an “extremely strong” position in the Cabinet, Peter Szijjarto, Premier Viktor Orban’s spokesman, told M1 television.
Hungary’s government will today present new legislation to punish vigilantes wearing uniforms and engaging in unauthorized law-enforcement activity, said Peter Szijjarto , Prime Minister Viktor Orban ’s spokesman.