The rating at the A- level reflects the expectation that the Polish economy will remain resilient to external events and growing macroeconomic challenges, Fitch wrote.
The agency expects Polish GDP to grow by 5.5 percent in 2022, which shows a significant degree of resistance to the effects of the pandemic and the war in Ukraine. Growth will slowly slow down in the second half of 2022, when high inflation and weak external demand will affect consumption, investment and exports, Fitch assessed.
According to the agency, Poland seems to be less vulnerable than other EU countries to problems with energy supplies, mainly due to significant investments in infrastructure in recent years. The country was cut off from Russian gas supplies, which did not cause any noticeable negative effects, stressed Fitch. New interconnectors and the Baltic Pipe gas pipeline will secure supplies in the coming years, the agency added.