A competitive and increasingly diversified export sector; A good external liquidity position; and A benign inflation outlook. High fiscal deficit and debt burden; Challenging prospects for market-oriented structural reform, privatization, and fiscal consolidation; and High unemployment levels. The ratings on the Republic of Poland are supported by its competitive and increasingly diversified economy, solid but balanced growth prospects, and moderate external leverage. The ratings on Poland remain constrained, however, by ongoing political uncertainty as regards the perspective for further structural reforms, by the challenge of consolidating public finances, and by high unemployment. Poland has the largest economy of the new EU members. Accession to the EU has been a key driver of robust export growth in recent years, testament to
