Poland’s finance minister has welcomed a positive report on the Polish economy by ratings agency S&P.
Rating agency Standard & Poor's has lowered Poland's 2021 GDP growth forecast from 3.8 to 3.4 percent, and raised the 2022 forecast from 4.2 to 4.4 percent
Fitch confirmed on Friday evening the long-term rating of Poland in foreign currency at "A-" with a stable outlook, the agency said.
Global ratings agency S&P has no concerns about the level of Poland's public debt, according to one of the company’s chief analysts.
The S&P Global Ratings agency assumes that Poland and the EU will reach a compromise over funds in the next EU budget being tied to observance of the rule of law and has also lowered its 2021 GDP growth forecast from 4.5 pct to 3.8 pct, S&P has reported.
Ratings agency Standard & Poor has upheld Poland's rating at A- for long-term liabilities in foreign currency, with stable outlook, the agency has reported in a statement.
The Polish economy is expected to shrink by 3.4 pct in 2020 against a previous 4.0 pct decline, global ratings agency Standard & Poor said in its revised forecast.
Good growth outlook supports Poland's rating, with the country facing a number of credit challenges including a significant structural deficit and a return to fiscal rules after the pandemic, rating agency Moody's wrote in a report dated September 15.
S&P Global Ratings maintained its forecast for the decline in Poland's GDP at -4 percent in 2020, according to a press statement released on Wednesday.
S&P Global Ratings has revised its forecast for the decline in Poland's GDP to -4 percent in 2020 from the previous -2 percent, according to an S&P report from May 7.