Fitch raises Poland’s GDP forecast

Global ratings agency Fitch has raised its GDP growth forecast for Poland to 4.0 percent in 2019 from the previously expected 3.8 percent.

Fitch cuts estimate of Polish general government deficit

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According to the agency, the move follows an announcement on a fiscal stimulation expected to be worth some 2 percent of GDP.

Fitch noted that the decision to include the first child in a family in the 500+ family benefit programme and one-time payments for pensioners will boost consumption which would partly compensate for the rise in imports expected by the agency. The impact of the proposed tax changes is less clear yet they should positively contribute to Poland’s economic growth, the agency said.

As for 2020, the agency upgraded its forecast from 3.0 to 3.5 percent.

Fitch Ratings Inc. is considered one of the "big three" credit rating agencies alongside Moody's and Standard & Poor's. It is headquartered in New York, US.