Ratings agency Moody's has downgraded Poland's economic growth forecast to minus 3.8 percent from an earlier forecasted negative of -2.0 percent growth in 2020.
Rating agency Moody's believes that Poland's economy will shrink by 2.0 percent in 2020 and grow by 3.4 percent in 2021, but sees very little chance for a rating upgrade.
Ratings agency Moody's has maintained a stable outlook for the Polish banking system despite the fact that the country is likely to see its first recession in 29 years.
Moody's did not update Poland's credit rating on Friday. This means that Poland's long-term foreign currency rating continues at A2 with a stable outlook.
The Polish economy will grow by 3.7 percent in 2020 and by 3.6 percent in 2021, the ratings agency Moody's said in a report on Monday.
Poland, with a balanced budget planned for 2020, has room for fiscal stimulation, the Ministry of Entrepreneurship and Technology wrote on Tuesday in response to a critical report from rating agency Moody's.
The S&P Global Ratings agency has lowered its estimate of Poland's 2018 general government deficit to 0.9 percent of the country's GDP from 2.0 percent, the agency's report from Thursday shows.
Poland is more resistant to the outcomes of global trade tensions as compared to other Central and Eastern European countries, Moody's lead analyst for Poland Heiko Peters has told PAP.
Moody’s credit rating agency, in a statement issued on September 14, announced that it had not updated Poland's credit rating.
Ratings agency S&P Global Ratings has revised Poland's rating outlook to positive from stable and affirmed the country's long-term "BBB+/A-2" long- and short-term credit ratings in foreign currency, the agency said in a Friday report.