S&P: Poland unchanged

Standard & Poor's said that the outcome of Sunday's general election in the Republic of Poland (foreign currency A-/stable/A-2, local currency A/stable/A-1) had no immediate impact on its sovereign ratings.

The agency said that the election outcome opens the possibility of the formation of a more reform-oriented and fiscally more conservative government, however, which could ultimately benefit the ratings.

Following the breakdown of Poland's outgoing government coalition of Prime Minister Jarloslaw Kaczynski, elections were called for this October, two years earlier than the regular end of the legislative term, S&P said.

Provisional results indicate that the liberal-conservative Civic Platform is the clear winner of the elections and is expected to lead a two-party coalition government with the agrarian Polish Peasants' Party, the agency noted.

With the pro-reform PO the dominating force in the next government, S&P said it expects this new government to exhibit a more reform-oriented approach toward economic and fiscal policy than the outgoing one.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.