The ratings on the Republic of Poland reflect a competitive and increasingly diversified economy, sound and balanced growth prospects supported by strong investment, and accelerating private consumption. Moderate and falling government deficits accompanied by an improved likelihood of fiscal discipline also support the ratings. The ratings are constrained by high general government debt, the large role that the public sector plays in the economy, and comparatively low levels of per-capita GDP. The outlook revision of the outlook on the long-term foreign currency sovereign credit rating on the Republic of Poland to positive from stable on Feb. 21, 2008, reflects the better environment for fiscal and structural reform under the recently formed government. This should drive down government deficits further and
