Despite rising energy prices, Poland?s real GDP is set to increase by 3% over the next three years, reflecting rising real incomes and EU-financed investments. Were a lasting ceasefire to be negotiated between Russia and Ukraine, Polish companies and markets would benefit disproportionately. At the same time, the country's fiscal position remains weak, with net general government debt set to reach 70% of GDP at the end of the decade. We therefore affirmed our 'A-/A-2' foreign currency and 'A/A-1' local currency ratings on Poland. The outlook is stable. On May 8, 2026, S&P Global Ratings affirmed its 'A-/A-2' long- and short-term foreign currency sovereign credit ratings and 'A/A-1' long- and short-term local currency sovereign credit ratings on Poland. The outlook
