Stable rating for Poland

Fitch rating agency in its press release justifying the decision indicates a diversified economy and a record of stable growth in recent years and a relatively sound macroeconomic framework and lower public debt levels than rated peers. The stable outlook reflects the agency’s expectation that the Polish economy will remain resilient to external shocks and macro-economic challenges, due in part to a commitment to and track record of solid fiscal performance and an improved external balance sheet.

Fitch forecasts GDP growth to fall from an estimated 5.7% in 2022 to 1.1% in 2023, as economic activity in Poland's main trade partners and domestic demand slow.

Agency expects the economy to recover in 2024, expanding by 2.6%.

Poland´s successful efforts at diversifying from Russian energy mean that the risks of gas or coal supply disruptions for this and next winter are relatively low.