Poland's credit profile remains strong - Moody's
September 11, 2012
Poland's credit profile remains robust, despite a potential economic slowdown, supported by policymakers' continued commitment to narrowing the fiscal imbalance, rating agency Moody's Assistant Vice President at Sovereign Risk Group Jaime Reusche told PAP Polish news agency commenting on 2013 draft budget.
"The Polish economy has proved resilient in the past, and although a slowdown similar to that of 2009 can't be ruled out, the sovereign's credit profile remains robust amid a deteriorating economic outlook throughout Europe," Reusche wrote.
The revised growth assumptions of 2.2% are seen as "prudent", while the draft budget shows that the authorities are trying "to find a balance between a continued consolidation of the fiscal accounts and an adjustment that is not harmful to economic growth," according to Reusche.
"Policymakers have remained committed to narrowing the fiscal imbalance, and this is a key message that has helped the sovereign preserve fiscal policy credibility," the expert said pointing to the favorable growth dynamics in 2011 and H1 2012 as further factors supporting investors' confidence.