Rating agency S&P shifts Poland’s credit outlook to negative and lowers currency rating

S&P has downgraded Poland's outlook to negative, citing significant fiscal deterioration and political polarization hindering fiscal consolidation. The agency predicts Poland's net debt will exceed 70% of GDP by 2029, with budget deficits remaining high. This follows similar actions by Fitch and Moody's, which have also expressed concerns about Poland's fiscal health. Finance Minister Andrzej Domański acknowledged the downgrade but emphasized the constraints posed by presidential vetoes on fiscal measures. The opposition blames the current government for the financial situation, arguing that it has led to a credibility crisis.