Bloomberg News

Fitch Says Poland Needs to Reassess Budget on Slower Growth

October 10, 2011

Oct. 10 (Bloomberg) -- Poland needs to reassess its fiscal consolidation plans since economic growth next year may be slower than the “optimistic” 4 percent rate needed to cut the budget deficit below the government’s target of 3 percent of gross domestic product, Fitch Ratings said today in a statement.

“More drastic” fiscal measures are needed if the government is “serious” about reaching the deficit target, Fitch said. While the ratings company said it doesn’t expect “significant slippage” of budget targets now that the coalition government has won re-election, such concern will remain as “a key rating driver.”

To contact the editor responsible for this story: David McQuaid at dmcquaid1@bloomberg.net


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