The forint weakened and bonds rose after Hungary’s central bank announced steps to reduce the nation’s reliance on foreign financing, backing Prime Minister Viktor Orban’s attempt to improve the junk credit rating.
Hungary’s economic-sentiment index was positive in April for the first time in almost 16 years as business confidence grew and consumers became less pessimistic after Prime Minister Viktor Orban won a second four-year term.
Goldman Sachs Group Inc. said Hungarian Prime Minister Viktor Orban’s re-election means “unpredictable” policies that risk weighing on growth, as the nation’s bonds suffer East Europe’s worst returns after Russia.
Hungarians are voting in a general election, with Prime Minister Viktor Orban set to extend his rule after four years of rule during which his power centralization triggered clashes with the European Union.
Hungarians head to the polls today in a general election, with Prime Minister Viktor Orban leading opinion polls after four years of rule during which his power centralization triggered clashes with the European Union.
Hungarian Prime Minister Viktor Orban, whose centralization of power triggered confrontations with the European Union over the past four years, is set for an election victory that may silence critics at home and abroad.