We expect Poland's economy to expand by 2.8% in 2024 and by 3.1% in 2025 as domestic demand continues to increase, offsetting weak external demand from Poland's key trading partners. The government has unlocked access to substantial EU funding but we expect a polarized political landscape will continue to complicate policymaking. We project that fiscal deficits will remain high this year and next, but expect government leverage will remain moderate in a global perspective. We affirmed our 'A-/A-2' foreign currency and 'A/A-1' local currency ratings on Poland. The outlook remains stable. On May 10, 2024, 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
