Rating agency Standard and Poor’s (S&P) has maintained Poland’s economic growth forecast at 0.9% in 2023.
At the same time, S&P upgraded its forecast for 2024 from 3.2% to 3.4%, the company said in a report published on March 28.
Poland’s average annual inflation (HICP) is now expected to hit 11.8% and ease to 6.2% in 2024 and 3.1% in 2025.
The agency predicts that Poland’s Monetary Policy Council will keep interest rates at the current level of 6.75% to the end of 2023. In 2024, according to S&P, the reference rate will be cut by a total of 150 basic point and in 2025 by another 175.
Among the three major rating agencies, Moody’s offers Poland the highest rating, on the A2 level. According to Fitch and S&P, Poland’s rating is A-. All three give Poland a “stable” outlook. (PAP/Business World Magazine)