S&P downgrades 2022 growth forecast for Poland

Justin Lane/PAP/EPA

S&P Global Ratings revised down Poland's GDP growth forecast for 2022 to 3.6 percent, from its previous estimate of 5.0 percent.

According to S&P's latest report, published on March 8, Poland's GDP will grow by 3.2 percent in 2023 and by 2.7 percent in 2024.

The agency has also raised its inflation forecast for Poland for 2022 by 3.1 pps to average annual CPI at 8.5 percent, according to the report.

The report did not provide any rationale for its forecasts.

Among the top three rating agencies, Poland enjoys the highest rating from Moody's (A2). Fitch and S&P have issued an A- credit rating for Poland, with a stable outlook.