Fitch: Likely Poland EDP Exit Highlights Consolidation Success

May 15, 2015 12:33 PM

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(The following statement was released by the rating agency) LONDON, May 15 (Fitch) The European Commission's recommendation that Poland should leave the Excessive Deficit Procedure (EDP) highlights the effectiveness of Poland's deficit reduction strategy and the positive fiscal impact of a strong economic performance, Fitch Ratings says.

We expect the general government deficit to remain below the 3% of GDP threshold in the medium term. Sustained fiscal consolidation has cut Poland's general government deficit from 4.0% in 2013 to 3.2% last year. We forecast a further fall to 2.8% this year. Fiscal tightening primarily reflects the ...

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