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

Related Articles

EC refers Poland to court for delay on renewable energy rules.

The European Commission is referring Poland (and Cyprus) to the Court of Justice of the European Union for failing to fully transpose EU's Renewable Energy Directive, according to the ... more

ZEW Economic Sentiment Indicator for Poland surges to 42.9pts in February.

The ZEW-Erste Group Bank Economic Sentiment Indicator for Poland (economic expectations) surged by 22.3pts m/m to 42.9pts in February, according to a report by the Center for European Economic ... more

FinMin: Poland to inject EUR 5.5bn of FX reserves to ECB upon euro-zone entry.

When Poland joins the euro-zone, it will have to transfer EUR 5.47bn of its foreign-currency reserves to the European Central Bank, according to a statement by the ministry of finance. The ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335