Fitch affirms Poland's 'A-' rating, outlook 'stable'
PR dla Zagranicy
Peter Gentle
14.02.2014 08:48
International credit rating agency Fitch has maintained Poland's long-term foreign currency Issuer Default Rating at 'A-', saying that the economy has shown "a high degree of resilience and stability".
photo - SXC
Fitch adds that a 3 percent GDP growth rate in 2014 - from 1.6 percent last year - will come from a rise in domestic demand and private and public investment as the economy recovers from last year's slow down.
Fitch forecasts that as transfers in early February of assets from private pension funds to state coffers - as part of controversial pension system reforms announced by the government last year - will help bring the general government deficit down to just below 3 percent of GDP in 2015, from an estimated 4.6% in 2013.
Ratings agency Standard & Poor also affirmed a A-/A-2 foreign currency rating this month, saying the rating is supported by an increasingly open and competitive economy.” (pg)
source: Reuters