Moody's puts Poland's growth rate at 3.3 pct in 2021

The Polish economy will expand by 3.3 percent this year, according to ratings agency Moody's, which previously put the country's growth rate at 4.0 percent.

The 3.3 percent rate means that the Polish growth will return to pre-pandemic levels this year.

In 2022, Poland's GDP will grow by 3.8 percent, the agency said in a report.

The coronavirus crisis of 2020 had a smaller impact on the economy than previously expected amid low dependence on exports and tourism and government aid reaching 10.6 percent of GDP, the agency observed.

Corporate loans will rebound after a drop in 2020 as investment appetite improves, and so will household loans, albeit at a single-figure pace, the agency said.

Moody's peer, Fitch, was the first major agency to review its assessment of Poland, upholding its A- rating, an upper-medium grade, on March 19. S&P will review the country's creditworthiness on Friday and Moody's on April 30.