Polish 09 deficit may top plan,neutral for rating-Fitch

Poland's general government deficit may rise to 2.7 percent of Gross Domestic Product (GDP) in 2009 but even a slightly higher gap would not impact the country's rating, a Fitch Ratings analyst said on Thursdays.

David Heslam also said Poland, rated by Fitch at A- with a stable outlook, may not be able to hold the 2009 budget gap at the budget-envisaged 18.2 billion zlotys as the economy slows sharply on the back of the global crisis.
We have a slightly wider government deficit than the government -- at 2.7 percent -- and the bias is on a higher deficit. This wouldn't put pressure on Poland's rating even if the deficit stood at 3 percent as government debt dynamics would not significantly worsen,' Heslam told Reuters.

Source: By Kuba Jaworowski, forbes.com