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 the sustained competitiveness of the Polish economy, despite strong zloty appreciation in the past two years. Growing demand from the EU, as well as a sustained recovery in domestic demand should support average GDP growth of around
