Global rating agency Fitch has upheld Poland’s long-term foreign currency rating at A- with a stable outlook.
In a Friday statement, Fitch said the strong rating was based on Poland’s diversified economy, robust macroeconomic framework that is anchored in EU membership and a low level of public debt compared to the country’s peers.
On the negative side, Fitch named governance and lower income levels.
According to Fitch, Poland is likely to remain resilient to external shocks and growing macroeconomic challenges owing to its stable financial position and improvement of the economy’s external standing.
But a growing proportion of government spending that is not included in the central budget and the upcoming election season before the 2023 parliamentary ballot poses a threat, Fitch said.
According to Fitch, Poland’s economic growth will reach 2.3 per cent both in 2023 and 2024, with downside risk.
Poland’s finance minister, Magdalena Rzeczkowska, commented to PAP: “Fitch is yet another leading agency that has affirmed a high rating of Poland.
“A diversified economy, well-managed public debt and a responsible fiscal policy let us navigate through… the negative economic consequences of the armed conflict in Ukraine and a difficult situation on the energy market,” the finance minister added.