Moody's keeping Poland rating unchanged is good news - Dep PM
Polish Deputy Prime Minister Mateusz Morawiecki said on Monday that the fact that Moody's ratings agency had maintained its rating for Poland was good news for the country.
Morawiecki was asked by reporters about the agency's decision not to revise its rating for Poland, despite expectations to the contrary.
Moody's also decided not to publish a credit report on Poland last Friday.
"It's good news as Moody's, one of the three agencies, is maintaining our highest rating", the deputy prime minister said.
"They confirmed it, as well as raising our 2017 GDP growth forecast from 3.2 to 4.3 percent", he pointed out.
"This is very good news for us, which was broadcast around the world. I had multiple positive reponses", Morawiecki emphasised.
Moody's decision means Poland's rating remains at A2/P-1, respectively, for long- and short-term liabilities in foreign and domestic currency, with a stable outlook.
In May, the agency confirmed Poland's A2 rating, raising its outlook from negative to stable.
It said fiscal and investment risk had decreased, as had political uncertainty.
Moody's also pointed out that it expected the Polish government to continue to comply with the requirement to keep the public finances deficit within 3 percent of GDP.
Early last week, the agency raised its forecast for Poland's GDP growth this year, from 3.2 to 4.3 percent, while saying the public finances deficit would total 2.5 percent of GDP, compared to the 2.9 percent forecast earlier.
According to Poland's statistical office, GUS, the country's economy grew by 4 percent year-on-year in the first quarter of 2017, followed by a 3.9 rise in the next three months. (PAP)
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