Moody's upgrades Poland's 2010 GDP growth forecast to 2.7%.

By bne IntelliNews August 24, 2010
Poland's economy will likely rise by 2.7% in 2010 and by 3.3% in 2011, credit-rating agency Moody's Investors Service estimates, as reported by the Rzeczpospolita daily. Still in April, the agency saw the figures at 1.8% and 3.1%, respectively. It also upheld stable outlook for Poland's sovereign ratings Poland's foreign currency debt ratings are Aa1/P-1, foreign currency deposit ratings: A2/P-1 and the sovereign bonds' rating A2. Moody's expects Poland's general government deficit to ease to 6.3% of GDP this year and to 6.1% in 2011 from last year's 7.1%. However, it also expects public debt to exceed the 55-percent-to-GDP threshold, contrary to the government's plans - it forecasts the figure at 53.9% in 2010 and at 56.4% in 2011 vs. last year's 51.0%. The government expects GDP to rise by 3.5%, 3.6% and by 4.8% in 2010-2012, respectively. tom

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