S&P rating agency decided to maintain Poland's rating at A- /A-2 for long- and short-term foreign currency liabilities and A / A-1 for long- and short-term liabilities in the national currency, the Ministry of Finance said. The rating outlook remained stable.
S&P referred to a diversified economy, qualified employees, a balanced level of public and private debt and membership in the European Union as a basis for maintaining the rating. The agency drew attention to the good fiscal situation of the state budget in 2018 and significant progress in reducing the VAT gap.
"S&P forecasts the general government deficit to GDP in 2019-2022 below 3 percent, at 1.5 percent in 2019 and 2.6 percent in subsequent years," the statement said.