Poland’s creditworthiness rests on fiscal consolidation as well as the level of foreign debt and income convergence, ratings agency Fitch said on Monday.
The recent changes to the pension system and to the public finance framework are neutral for Poland’s rating. In assessing Poland’s creditworthiness, Fitch will continue to focus on fiscal consolidation, reduction of foreign debt and income convergence, the agency said in a statement.
The introduction of a stabilising spending rule by Poland could support better fiscal discipline, Fitch said but added that fiscal caps could be breached in the future as evidenced by the suspension of a public debt warning threshold in 2013.
Poland enjoys an A- rating with a stable outlook from Fitch. (PAP)