S&P, one of the world’s "Big Three" credit rating agencies, said at the end of last week it was keeping Poland's long- and short-term foreign-currency sovereign credit ratings at A-/A-2, with a stable outlook.
The rating agency maintained the country's local-currency ratings at “A/A-1.”
It cited Poland's diversified economy, NATO and European Union membership and manageable levels of public and private debt as the rationale for the rating action.
The agency predicted, however, that the military conflict between Russia and Ukraine would have a negative impact on Poland's economy, Polish state news agency PAP reported.
S&P has trimmed its 2023 GDP growth forecast for Poland to 0.9 percent from a previous prediction of 1.2 percent, amid Russia's war in Ukraine, the PAP news agency reported.
Poland's President Andrzej Duda in early February signed into law the country’s budget for 2023, which expects the economy to grow 1.7 percent this year.
Poland's gross domestic product grew 4.9 percent in 2022, according to a preliminary estimate released by the country's statistics agency at the end of last month.
(gs)
Source: PAP, gov.pl