Moody's, the credit rating agency, announced that it has decided not to alter Poland's credit rating or its outlook following a previous downgrade in 2025. During that review, Moody's changed the outlook from stable to negative, citing a significant deterioration in public debt and deficit projections, which had raised concerns among investors and analysts. However, over the past six months, nothing substantial has occurred to warrant further changes in Moody's assessment.

The most recent estimates from Moody's projected that the deficit of government and local government institutions in Poland would rise to 6.8% of GDP in 2025 due to high social, defense, and infrastructure spending. Moody's forecasts a gradual reduction in this deficit, estimating it would decrease to 6.6% for the current year and further to 5.9% by 2027. This slow reduction highlights the ongoing challenges Poland faces regarding its fiscal health amidst increasing expenditures.

Additionally, Moody's evaluated various internal and external risks that could potentially impact Poland's rating. Factors influencing these risks include economic stability, geopolitical dynamics in the region, and domestic policy decisions. As Poland's economy continues to navigate these complexities, the consistency of its credit rating remains crucial for maintaining investor confidence and economic growth.