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    Poland’s Strong Economic Outlook and Fiscal Stability

    Estimated reading time: 1 minute

    Poland’s Minister of Finance, Magdalena Rzeczkowska, recently shared optimistic news about the country’s economic outlook. International credit rating agencies have expressed confidence in Poland, maintaining its ratings and stable prospects. The data suggests a promising future, with Poland projected to achieve the “highest GDP growth among major European economies” at 2.7% in 2024, according to the European Commission.

    Fiscal Resilience and Public Debt

    Rzeczkowska highlighted the sound fiscal management as Poland’s consolidated public debt, as a percentage of GDP, stood at 48.2% in the second quarter of this year. The budget deficit by the end of September was 37.7% of the revised budget law’s allowed deficit of PLN 92 billion for 2023. Revenues for the same period reached PLN 418.0 billion, accounting for 69.5% of the revised budget law, while expenditures totaled PLN 452.7 billion, equivalent to 65.3% of the plan.

    Among the top three credit rating agencies, Moody’s has the highest credit rating for Poland at “A2,” while Fitch and S&P rate Poland at “A-,” one level lower than Moody’s. All agencies have stable outlooks. Moody’s last updated Poland’s credit rating on September 22, with Fitch and S&P scheduled to review it on November 10 and December 1, respectively.

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