Moody's: Poland shows resilience

In its annual credit report on Poland, Moody's Investors Service said the country's A2 local- and foreign-currency government bond ratings reflect the underlying resilience of the Polish economy.

The outlook is stable.

However, the agency noted that the fiscal stimuli to the economy have led to an elevated budget deficit and rising government debt levels over the past few years.

ìThe underlying resilience of the Polish economy has been amply demonstrated by steady growth and the lack of imbalances in the run-up to the global crisis and the country's position as the only EU member not to go into recession last year,î said Anthony Thomas, a Moody's analyst.

The agency noted that the underlying strength and growing maturity of Poland's institutions have also been evident during what has proven to be a very testing year for the country.

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