Fitch lifts GDP forecast for Poland, sees moderate improvement in corporate outlook

2010-02-09



Fitch, the international credit rating agency, has significantly lifted its forecast for economic growth in Poland in 2010, the second such decision in less than a month. The agency now expects the Polish economy to expand by 2.3% this year, up from the previously forecast 1.5%.
The revision came in a report about the outlook for Polish companies in 2010, which according to Fitch has improved moderately, thanks to less uncertainty about the economic environment and better access to external financing (bank loans, but also corporate bonds).
According to Arkadiusz Wicik, director at Fitch’s Corporates team, many companies in Poland may resume long-term growth strategies this year, after putting them on hold in 2009 to focus on cost control and cutbacks in capital expenditures.