Fitch: Poland deficit to grow

Fitch Ratings said the increase in the Polish government's expected deficit in its 2013 budget reflects a more realistic forecast of the economy, rather than any weakening in the Polish government's commitment to fiscal prudence.

Poland's has an A- rating with stable outlook.

Slower growth remains the principal risk to successful financial consolidation, Fitch said.

The deficit revision was driven by lower growth forecasts rather than a retreat from consolidation, the agency said. The budget, approved by the government last week, anticipates GDP rising by 2.2% next year, down from a previous forecast of 2.9%, Fitch said.

The resulting lower revenue projections mean the planned budget gap is 35.6 billion in Polish zloty, up from an original forecast of 32 billion in Polish zloty, the agency said.

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