Polish credit rating unaffected by presidential election
PR dla Zagranicy
John Beauchamp
28.05.2015 09:13
Standard & Poor’s, one of the three main global rating agencies, has stated that Poland’s credit rating will not be directly affected by the result of the Presidential election, which saw opposition candidate Andrzej Duda come to power.
Photo: thenews.pl/Roberto Galea
However, the ratings agency did warn that upcoming parliamentary elections this October may result in increased government spending. Currently the 2015 deficit is expected to be 2.7 percent of GDP, just below the EU target of 3 percent.
According to Standard & Poor’s, statements made by both the government and the opposition suggest that there may be additional spending in the run-up to the October election, though the Agency believes there is little chance of the EU target being breached this year.
The Agency also noted that Andrzej Duda only won by a small margin, which may lead to a heated and closely contested parliamentary election campaign. (sl/jb)
Source: Polskie Radio