Pre-election fiscal loosening is in full swing in Hungary and, with four months still to go until voting, the risk is that more giveaways are announced, which pushes risk premia on public debt even higher. Prime Minister Orban has said that US President Trump has agreed to support Hungary’s economy if it came under a speculative attack by traders – a sign that he’s turning to Washington as ties with the EU remain strained. While this sounds similar to the help Argentina has received, Hungary economic vulnerabilities are nowhere near the scale of Argentina's.
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