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S&P upgrades Poland’s 2018 GDP growth forecast to 4.5%

The world’s largest credit rating agency S&P Global Ratings has upgraded its forecast for Poland’s 2018 GDP growth to 4.5 percent from a previous projection of 3.8 percent.

In a report dated April 10, S&P Global Ratings also revised downward its projection for Poland’s debt-to-GDP ratio this year to 49.5 percent from the 51.8 percent it forecast earlier.

The agency kept its 2018 general government deficit forecast for Poland at 2 percent of GDP, Poland’s PAP news agency reported on Wednesday.

In late March, another major ratings agency, Moody’s Investors Services, upped its forecast for Polish GDP growth this year to 4.3 percent from a previous projection of 3.5 percent.

Meanwhile, the Fitch ratings agency, the third of the “Big Three,” in mid-March upgraded its forecast for the Polish economy, saying it expects the country’s GDP to grow 3.9 percent this year.

The European Commission said in a report published last month that it expected Poland’s real GDP to grow by 4.2 percent in 2018 and 3.6 percent in 2019. Those rates would be among the highest in the 28-nation European Union.

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