{"id":167605,"date":"2026-06-08T13:10:39","date_gmt":"2026-06-08T13:10:39","guid":{"rendered":"https:\/\/friss-hirek.hu\/index.php\/magyarorszag-tulelte-a-tavaszi-vizsgaidoszakot-de-meg-messze-nem-kerult-ki-a-veszelyzonabol-ezt-varjak-hazanktol-a-hitelminositok\/friss-hirek\/"},"modified":"2026-06-08T13:10:39","modified_gmt":"2026-06-08T13:10:39","slug":"magyarorszag-tulelte-a-tavaszi-vizsgaidoszakot-de-meg-messze-nem-kerult-ki-a-veszelyzonabol-ezt-varjak-hazanktol-a-hitelminositok","status":"publish","type":"post","link":"https:\/\/friss-hirek.hu\/index.php\/magyarorszag-tulelte-a-tavaszi-vizsgaidoszakot-de-meg-messze-nem-kerult-ki-a-veszelyzonabol-ezt-varjak-hazanktol-a-hitelminositok\/uzlet\/","title":{"rendered":"Magyarorsz\u00e1g t\u00fal\u00e9lte a tavaszi vizsgaid\u0151szakot, de m\u00e9g messze nem ker\u00fclt ki a vesz\u00e9lyz\u00f3n\u00e1b\u00f3l: ezt v\u00e1rj\u00e1k haz\u00e1nkt\u00f3l a hitelmin\u0151s\u00edt\u0151k"},"content":{"rendered":"<p><strong>Az uni\u00f3s forr\u00e1sokhoz sz\u00fcks\u00e9ges felt\u00e9telek teljes\u00edt\u00e9se, p\u00f3tk\u00f6lts\u00e9gvet\u00e9s \u00f6ssze\u00e1ll\u00edt\u00e1sa, \u00e9s int\u00e9zm\u00e9nyi reformok sz\u00fcks\u00e9gesek, hogy Magyarorsz\u00e1g ne ker\u00fclj\u00f6n b\u00f3vli kateg\u00f3ri\u00e1ba az \u0151sszel a hitelmin\u0151s\u00edt\u0151kn\u00e9l.<\/strong><\/p><div id=\"friss-462936815\" class=\"friss-etarget friss-entity-placement\"><script type=\"text\/javascript\" id=\"etargetScript7a9b589f63cb072bef80df221f46a22b\">function etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b(){var e=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",t=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",o=document.getElementById(e);if(o){for(var n=o.offsetTop,d=o.offsetLeft,r=o.offsetWidth,a=o.offsetHeight;o.offsetParent;)o=o.offsetParent,n+=o.offsetTop,d+=o.offsetLeft;var i=(n<=window.pageYOffset+window.innerHeight&&d<window.pageXOffset+window.innerWidth&&n+a>window.pageYOffset&&d+r>window.pageXOffset);if(i&&etargetAllowOtherCheck){allowed=!1;var c=document.createElement(\"script\");return c.src=\"\/\/hu.search.etargetnet.com\/generic\/uni.php?g=ref:58661,area:700x210\",void(document.getElementById(t)&&document.getElementById(e)&&(document.getElementById(t).parentNode.appendChild(c),document.getElementById(t).parentNode.removeChild(document.getElementById(t)),document.getElementById(e).parentNode.removeChild(document.getElementById(e)),document.removeEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b)))}}}var etargetDivID=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",etargetScriptID=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",etargetPostloadPoint=document.createElement(\"div\");etargetPostloadPoint.id=etargetDivID;var etargetCurScript=document.getElementById(etargetScriptID);etargetCurScript.parentNode.appendChild(etargetPostloadPoint),document.addEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.addEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.addEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b);var etargetAllowOtherCheck=!0;if(typeof(\"forceRunPostload\")==\"string\"){etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b()}<\/script><\/div>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><strong>Mi t\u00f6rt\u00e9nt?<\/strong> A h\u00e1rom nagy hitelmin\u0151s\u00edt\u0151 jelezte, hogy Magyarorsz\u00e1gnak mit kell teljes\u00edtenie, ha z \u0151sszel is meg akarja tartani a befektet\u00e9sre aj\u00e1nlott besorol\u00e1s\u00e1t. A GKI elemz\u0151i arra h\u00edvt\u00e1k fel a figyelmet, hogy haz\u00e1nk csak id\u0151t kapott \u00e9s s\u00fcrg\u0151s int\u00e9zked\u00e9seket kell hozni, ha az \u0151sszel is pozit\u00edv elb\u00edr\u00e1l\u00e1sra v\u00e1gyunk.<\/p>\n<p>Az S&amp;P (BBB-), a Moody\u2019s (Baa2), valamint a Fitch (BBB) is tartotta Magyarorsz\u00e1g ad\u00f3sbesorol\u00e1s\u00e1t, illetve mind a h\u00e1rom hitelmin\u0151s\u00edt\u0151n\u00e9l megmaradt a negat\u00edv kil\u00e1t\u00e1s. Ez nem meglep\u0151, a piac ezt az eredm\u00e9nyt prognosztiz\u00e1lta. Ami a fontosabb, hogy a h\u00e1rom v\u00e1llalat jelezte, hogy mit v\u00e1r el haz\u00e1nkt\u00f3l az \u0151szi fel\u00fclvizsg\u00e1latig.<\/p>\n<div class=\"related-post-links\">\n<p>\t\t<span class=\"related-post-links__title minititle\">T\u00f6bb ebb\u0151l<\/span><\/p>\n<div class=\"related-post-links__link-wrapper\">\n\t\t\t\t<a href=\"https:\/\/forbes.hu\/penz\/zsiday-interju-tisza-kormany-gazdasag-kilatasok\/\" class=\"related-post-links__link\">Zsiday: Nem v\u00e9letlen, hogy ekkor\u00e1t ugrott a forint \u00e9s beszakadtak a hozamok<\/a>\n\t\t\t<\/div>\n<div class=\"related-post-links__link-wrapper\">\n\t\t\t\t<a href=\"https:\/\/forbes.hu\/penz\/tul-nagy-a-lelkesedes-erdemes-tullepni-a-legnepszerubb-magyar-allampapiron\/\" class=\"related-post-links__link\">T\u00fal nagy a lelkesed\u00e9s, \u00e9rdemes t\u00fall\u00e9pni a legn\u00e9pszer\u0171bb magyar \u00e1llampap\u00edron<\/a>\n\t\t\t<\/div>\n<\/div>\n<p><strong>Moody\u2019s:<\/strong> A GKI kiemelte, hogy a Moody\u2019s jelezte, hogy a magyar gazdas\u00e1g szempontj\u00e1b\u00f3l mag\u00e1t a rendszert tartja kritikusnak. A hitelmin\u0151s\u00edt\u0151 jelezte, hogy \u201em\u00e9lyen gy\u00f6kerez\u0151 int\u00e9zm\u00e9nyi \u00e9s ir\u00e1ny\u00edt\u00e1si gyenges\u00e9gek\u201d \u00e9s a 2020 \u00f3ta fenn\u00e1ll\u00f3 magas \u00e1llamh\u00e1ztart\u00e1si hi\u00e1ny egy\u00fctt aggaszt\u00f3 k\u00e9pet fest a magyar gazdas\u00e1gr\u00f3l. A Moody\u2019s egy\u00e9rtelm\u0171v\u00e9 tette, hogy az uni\u00f3s forr\u00e1sok felszabad\u00edt\u00e1s\u00e1t, valamint az int\u00e9zm\u00e9nyi reformokat v\u00e1rja el haz\u00e1nkt\u00f3l a k\u00f6vetkez\u0151, november 20-i fel\u00fclvizsg\u00e1lat\u00e1ig.<\/p>\n<p>Az elv\u00e1r\u00e1s a konkr\u00e9t \u00e9s v\u00e9grehajtott jogszab\u00e1lyi reformok az augusztus 31-i EU-hat\u00e1rid\u0151ig, \u00e9s olyan k\u00f6lts\u00e9gvet\u00e9si el\u0151terjeszt\u00e9s, amely hiteles p\u00e1ly\u00e1t ad a m\u00f3dos\u00edtott hi\u00e1nyc\u00e9loknak.<\/p>\n<p><strong>S&amp;P:<\/strong> Az S&amp;P eset\u00e9ben a legkritikusabb Magyarorsz\u00e1g besorol\u00e1si helyzete, hiszen haz\u00e1nk csak egy szinttel van a h\u00e1zn\u00e1l a b\u00f3vli kateg\u00f3ria felett. A hitelmin\u0151s\u00edt\u0151 egy\u00e9rtelm\u0171en jelezte, hogy tavasszal halad\u00e9kot adott haz\u00e1nknak, hogy bizony\u00edtsa: az \u00faj korm\u00e1ny k\u00e9pes normaliz\u00e1lni a v\u00e1laszt\u00e1s el\u0151tti k\u00f6ltekez\u00e9s miatt elszabadult \u00e1llami k\u00f6ltekez\u00e9st. Jelezt\u00e9k, hogy 2026-ban a Tisza-korm\u00e1nynak egy\u00e9rtelm\u0171 fisk\u00e1lis reformokat kell v\u00e9grehajtania. Azaz a novemberi d\u00f6nt\u00e9s el\u0151tt m\u00e9g van mozg\u00e1st\u00e9r, \u00e9s az idei p\u00f3tk\u00f6lts\u00e9gvet\u00e9s, illetve a 2027-es keretek tartalma d\u00f6nti el, hogyan haszn\u00e1lja fel a korm\u00e1ny ezt a mozg\u00e1steret.<\/p>\n<p>A november 27-i fel\u00fclvizsg\u00e1latig az S&amp;P szempontj\u00e1b\u00f3l ezek lesznek a legfontosabb jelz\u00e9sek.<\/p>\n<p><strong>Fitch:<\/strong> A hitelmin\u0151s\u00edt\u0151 6,4 sz\u00e1zal\u00e9kos GDP-ar\u00e1nyos hi\u00e1nnyal sz\u00e1mol az idei \u00e9vre \u00e9s azt \u00edrt\u00e1k, hogy az \u00e1llamad\u00f3ss\u00e1g-r\u00e1ta 76,2 sz\u00e1zal\u00e9kra emelkedhet. Az \u00fczenet\u00fck egy\u00e9rtelm\u0171: lemin\u0151s\u00edt\u00e9s k\u00f6vetkezhet, ha hiteles konszolid\u00e1ci\u00f3 hi\u00e1ny\u00e1ban tart\u00f3s lesz az \u00e1llamad\u00f3ss\u00e1g emelked\u00e9se vagy v\u00e1ltozatlanul gyenge maradnak a n\u00f6veked\u00e9si kil\u00e1t\u00e1sok. Pozit\u00edv ir\u00e1ny\u00fa v\u00e1ltoztat\u00e1st eredm\u00e9nyezhet viszont az int\u00e9zm\u00e9nyi reformok vagy kell\u0151 m\u00e9rt\u00e9k\u0171 fisk\u00e1lis konszolid\u00e1ci\u00f3s l\u00e9p\u00e9sek v\u00e9grehajt\u00e1sa, illetve a n\u00f6veked\u00e9si kil\u00e1t\u00e1sok er\u0151s\u00f6d\u00e9se is.<\/p>\n<p><!-- No email blocks found --><\/p>\n<p>The post <a href=\"https:\/\/forbes.hu\/penz\/hitelminositok-magyarorszag-befektetesre-ajanlott-reformok\/\">Magyarorsz\u00e1g t\u00fal\u00e9lte a tavaszi vizsgaid\u0151szakot, de m\u00e9g messze nem ker\u00fclt ki a vesz\u00e9lyz\u00f3n\u00e1b\u00f3l: ezt v\u00e1rj\u00e1k haz\u00e1nkt\u00f3l a hitelmin\u0151s\u00edt\u0151k<\/a> appeared first on <a href=\"https:\/\/forbes.hu\/\">Forbes.hu<\/a>.<\/p><div id=\"friss-2455657562\" class=\"friss-etarget-cikk-vege friss-entity-placement\"><script type=\"text\/javascript\" id=\"etargetScript7a9b589f63cb072bef80df221f46a22b\">function 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id=\"friss-447152291\" class=\"friss-after-content_3 friss-entity-placement\">https:\/\/www.youtube.com\/watch?v=Pdnw4KiUWp0<\/div>","protected":false},"excerpt":{"rendered":"<p>Az uni\u00f3s forr\u00e1sokhoz sz\u00fcks\u00e9ges felt\u00e9telek teljes\u00edt\u00e9se, p\u00f3tk\u00f6lts\u00e9gvet\u00e9s \u00f6ssze\u00e1ll\u00edt\u00e1sa, \u00e9s int\u00e9zm\u00e9nyi reformok sz\u00fcks\u00e9gesek, hogy Magyarorsz\u00e1g ne ker\u00fclj\u00f6n b\u00f3vli kateg\u00f3ri\u00e1ba az \u0151sszel a hitelmin\u0151s\u00edt\u0151kn\u00e9l. Mi t\u00f6rt\u00e9nt? A h\u00e1rom nagy hitelmin\u0151s\u00edt\u0151 jelezte, hogy Magyarorsz\u00e1gnak mit kell teljes\u00edtenie, ha z \u0151sszel is meg akarja tartani a befektet\u00e9sre aj\u00e1nlott besorol\u00e1s\u00e1t. A GKI elemz\u0151i arra h\u00edvt\u00e1k fel a figyelmet, hogy haz\u00e1nk [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-167605","post","type-post","status-publish","format-standard","hentry","category-uzlet"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts\/167605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/comments?post=167605"}],"version-history":[{"count":0,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts\/167605\/revisions"}],"wp:attachment":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/media?parent=167605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/categories?post=167605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/tags?post=167605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}