Research Update: Poland Outlook Revised To Positive From Stable On Solid Economic Performance; Ratings Affirmed

Ratings: Foreign Currency: BBB+/Positive/A-2 Local Currency: A-/Positive/A-2 For further details see ratings list. We expect Poland's strong economic expansion to continue throughout 2018 on the back of solid external demand, generous EU transfers, and the underlying resilience of Poland's large, diversified, and open economy. We are therefore revising our outlook on Poland to positive from stable, and affirming the ratings. Nevertheless, we forecast GDP growth will eventually decline toward our estimated long-term potential GDP growth rate of 2%, due to a shrinking workforce, wage pressures, and an uncertain global environment. The positive outlook indicates an increased likelihood we would upgrade Poland within the next 24 months. On April 13, 2018, S&P Global Ratings revised its outlook on Poland to positive

...We expect Poland's strong economic expansion to continue throughout 2018 on the + back of solid external demand, generous EU transfers, and the underlying resilience of Poland's large, diversified, and open economy. We are therefore revising our outlook on Poland to positive from stable, and + affirming the ratings. Nevertheless, we forecast GDP growth will eventually decline toward our estimated + long-term potential GDP growth rate of 2%, due to a shrinking workforce, wage pressures, and an uncertain global environment. The positive outlook indicates an increased likelihood we would upgrade Poland + within the next 24 months....

Research Update