Fitch: good prospects for Polish local governments

Fitch Ratings says in a new comment, that prospects for Polish local and regional governments are good for 2016-2017 as they are likely to post healthy operating performance, and pressure on debt increase should remain low due to economic growth Poland's local and regional governments' operating surplus is to stand at some PLN 22 billion (which accounts for 11 percent of operational net profits), compared with PLN 21 billion expected in 2015. According to the rating agency, the local authorities will record an average annual increase of 7 percent in profits from tax and lower equity expenditure, valued at PLN 34 billion, versus PLN 40 billion last year. Direct debt is to total PLN 71 billion, which will account for 38 percent of current revenues.