Poland's debt-to-GDP ratio to fall to 49% by 2019: Moody's

The country’s general government debt is expected to shrink on the back of stronger-than-expected fiscal and economic performance, the agency said in a new report.

According to Poland’s Central Statistical Office (GUS), the country’s general government debt and deficit both decreased last year compared with 2016.

Poland's debt-to-GDP ratio fell to 50.6 percent in 2017, from 54.2 percent in 2016, the statistics office reported on Tuesday, citing what it said were preliminary estimates.

Meanwhile, Poland’s general government deficit shrank to 1.5 percent of GDP in 2017, from 2.3 percent of GDP in 2016, the office reported.

Moody's in late March upped its forecast for Polish GDP growth this year to 4.3 percent, from a previous projection of 3.5 percent.

Moody's at the time revised downward its projection for Poland’s general government deficit this year to 1.8 percent of GDP. It also lowered its forecast for Poland’s 2018 debt-to-GDP ratio to 51.6 percent.

(gs/pk)

Source: PAP