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S&P confirms Poland's A- rating with stable outlook

Global ratings agency S&P has confirmed Poland's long-term A- rating in foreign currencies with a stable outlook. The A grade is the third from the top in a ten-level scale used by S&P.

According to S&P, the military conflict between Russia and Ukraine will have a significant impact on Poland's economy and public finance.

  • As a result of this, S&P has trimmed its GDP growth forecast for Poland to 3.6% from 5% in 2022 and is expecting a higher general government deficit this year, at 4% of GDP versus 3% predicted earlier.

  • The effects of the shock triggered by the war can be mitigated by the government's flexible policy, strong external and budget balance sheets and significant EU transfers.

Both Fitch and S&P have given Poland the A- rating, whereas Moody's assessment of A2 is the highest among the three biggest global ratings agencies.

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