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English Section

Moody's lowers Polish 2020 GDP growth forecast to 3%

18.03.2020 17:00
Ratings agency Moody's has lowered its forecast for Polish economic growth this year to 3.0 percent from 3.7 percent as the country battles a coronavirus outbreak.
Photo: Henryk NiestrójPixabay
Photo: Henryk Niestrój/Pixabay Pixabay License

Moody's, one of the world’s "Big Three" credit rating agencies, said it expected GDP growth in Poland to rebound to 3.7 percent in 2021.

The agency said last week it had not updated its rating for Poland, thus keeping it unchanged at "A2" with a stable outlook.

The Polish economy grew 3.2 percent in the final quarter of last year and expanded by 4 percent in 2019 as a whole, according to the Central Statistical Office.

Poland’s authorities on Wednesday unveiled a EUR 47 billion stimulus package to shore up the economy and shield the country from the impact of the intensifying coronavirus outbreak.

Prime Minister Mateusz Morawiecki told reporters the government’s “Anti-Crisis Shield” would deliver a massive injection of state funds in order to protect jobs, help the country’s entrepreneurs and maintain the liquidity of businesses hit by the coronavirus.

(pk)

Source: PAP