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S&P Cuts Poland’s GDP Growth Forecast

S&P Cuts Poland’s GDP Growth ForecastS&P Cuts Poland’s GDP Growth Forecast

Rating agency Standard and Poor’s has cut Poland’s GDP growth forecast for last year to 2.8% and to 3.2% for next year, Radio Poland reported. Previous S&P’s forecasts had predicted the Polish economy would grow 3% in 2016 and 3.3% in 2017. The agency—one of the “big four” rating companies—in December decided to keep Poland’s rating unchanged at BBB+ but raised the country’s outlook to stable. In January last year, S&P lowered Poland’s rating to BBB+ from A- and changed its outlook to negative. That move sparked anger in Warsaw, with the Polish finance ministry calling the decision “incomprehensible”.

 

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