Moody's credit rating of Poland unchanged, but outlook slumps

Moody's Investor's Services have not lowered Poland's A2 credit rating but only dropped the country's economic outlook from stable to negative. Since the date of Moody's verdict had been known in advance, the ruling conservative Law and Justice administration was worried and the anti-government opposition overjoyed by the propsect of a rating cut. That would have supplied the opposition with more ammunition with which to discredit Poland's democratically elected authorities. When rating agency Standard and Poor's (S&P) downgraded Poland's credit rating in January, the opposition claimed that proved the government was ruining the country's economy. In actuality, it was the opposition's clamorous street protests and its attempts to internationalize an internal dispute over the Constitutional Tribunal that created the impression of a country in disarray, although Poland's economy was and remains robust. Moody's said it lowered the outlook on Poland's A2 rating amid fears that plans to lower retirement age and a child-benefit program would place a considerable financial burden on the budget.

I thought Polands economy was already destroyed, according to PiS?

So, a ratings downgrade is to be expected.

LOL


lies


Yea, sure


Finally, some truth in your post

The Polish economy in 2016 is expected to grow by 3.6%, the European Bank for Reconstruction and Development said in its latest report, upgrading the 2016 forecast from a previous 3.3%.

"Growth in 2016 is expected to remain at a similar level [as in 2015], as disposable income will grow thanks to a generous injection from the government's pro-family fiscal program, which amounts to roughly 1 per cent of GDP," EBRD wrote

Care to remind us how many tens of billions have been wiped off the value of Polish shares since that cat Duda duped the electorate into voting for good changes? From memory it's fifty billion of your American dollars, so pretty much hundreds of billions of our Polish zloty, given that the exchange rate is now 3.92. Care to remind us what that exchange rate was a year ago? 3.51 from memory. And what was it two years ago? 3.00? That's only a good change for people who are begging $16 cheques from gullible members of Polonia.

Not looking very encouraging on that. 3.0% estimate.

thenews.pl/1/12/Artykul/252606,Polish-economy-grows-3

Care to mention the vast amount of waste, neglect, theft, bribery, fixed tenders, failed projects, mortars ordered by the military but no ammuniton to go with them, the computerised Ewuś healthcare system that has collapsed, etc., etc. How many billions have been squandered or misapprorpirated by the "grab the loot and

run" gang known as PO/PSL.

Yea, I wouldn't really be boasting about that but yea, good luck if you think that's good.


Also, anyone that relies on GDP as a measurement know zilch about economics.
GNP or NNI or GPI would be far better and the reality is so-called economists don't use those figures because they show a true refection of a county's economy.

You can have a read of this and it explains it very well, it's pretty old though, but yea, countries have been pulling to wool over the eyes of people for years becasue people just blindly believe that GPD is a good indicator

softpanorama.biz/Skeptics/Financial_skeptic/Casino_capitalism/Number_racket/gdp_is_a_questionable_measure_of_economic_growth.shtml

You prob won't bother though coz you're PiS shill and worship at the alter of PiSlam

Isn't Poland's one of the highest in Europe?

Yes it is.But its still going to take a long time (25 years) at 3% to double gdp to put it a even vaguely comparable level of Western Europe, China was over 10% for years.

Smurf, unless you can find a better metric, GDP will continue to be used.

But isn't Western Europe's GDP much lower than Poland's?

hmm Polonius - are you sane or is it a moment of weakness of your mind?

pweeg answers this perfectly


There are better, fairer metrics, but GDP is used becasue it's so vague. It's a bit like Catholicism y'know, nobody really knows how to explain it properly but we're told it's a good thing so we go with it ;)

But yea, seriously though there is a far better measure that economists and governments don't use becasue it shows a true reflection of a country's economy:

socialprogressimperative.org/data/spi


No, not really
ec.europa.eu/economy_finance/eu/forecasts/2016_spring_forecast_en.htm

Dunno where you learnt your maths, but the 2016 forecast 1.8 GDP growth in the EU IMHO is lower than the 3.6 forecast for Poland. BTW GDP is still the most widely used measure of economic growth.

you said GDP not GDP growth which makes a collossal difference

I thought you'd get it was a skrót myślowy -- of course growth was intended.

Those ratings are based to a certain extent on a political estimate of a country. Perceived political instability due to destabilizing actions of 0,2% of the society in Poland has something to do with it.

Since PO and other scum are set at acting against the grain and Poland's interest those all that ranking lowered came as not a great surprise.


Pol doesn't really know. He is invested in supporting PiS.

Polonius clearly knows the difference (look at his post above) - and I am even more invested in supporting PiS

I learned Maths, I never learnt
Lol

Right, so anyway, that just shows that you didn't bother clicking on the link that I effing provided you with to show you that there are countries in Western Europe with the same or similar GDP growth forecasts. Well done Polo, really, well done. What an utter ********.

What's the point talking to you when you don't bother reading the links that are sent to you?


So?
Just becasue something is popular does that mean it's the most correct way? Of course not, stop being stupid.
Beyone's latest album is the most widely played on radio at the moment, doesn't mean it's any good, it's sh!t, but hey, it's popular so it's all good man


For sure, and even saying that there are different types of GDP
Real GDP is supposed to be the best, it's still not, but y'know
investorguide.com/article/15615/real-gdp-vs-nominal-gdp-d1412

Altar not alter!

As the agency's make clear, its the political and economic actions of the GOVERNMENT that has an effect, not, as you say 0.2% of the population who are protesting.


Its a measure of more than a country's economy, thats the point. Poland position in the world is about the same as its national GDP and much better that the nominal GDP per capita position.

In fact Poland is doing extremely well.

Indeed so, and imo it's better to measure more than just GDP to get a real picture of a country.
My biggest gripe with GDP is that it doesn't factor in all the money that leaves countries thanks to foreign multinationals.


No doubt, it is, it could be a lot, lot worse. But we'll see, PiS will bring the country down, since the President won I think Poland has lost 50 billion dollars off its stock market. Doesn't bother me, I get paid in euros and dollars and yen so happy days :)

These "rating agencies" are one of the biggest pathologies of the financial sector, the sooner they are gone, the better.

They aren't going anywhere.

Lol

Warsaw ha become the worst performing stock market in the region during PiS tenure so far.

If you had any clue what is being discussed here and did something else than working in kindergarten, you wouldn't be loling.


Of course let's forget that it has by far more to do with PO's OFE scam than with anything PiS had done :))))))

Now now, Greggs, don't be trying to shift the blame to the previous government who were an economic success. The fact is that the Warsaw stock exchange has become the worst performing in the region (and almost the worst performing in the world) since PiS unfortunately took office and that decline has been both steady and severe as well as an indictment of their economic mismanagement and the business community's distrust of the PiS clowns.

Agree about ratings agencies being difficult but there is a simple method to avoid them - don't borrow money.

But the Polish government now has to borrow much money to fulfil the promises they made to the naïve electorate and so obviously people who will lend want to know if Kaczynski, Szydlo and Szalamacha are trustworthy and will pay their money back. Seems they are making their own mind up on that.

I've posted numerous times in this thread with factual posts, silly troll

Why do you think I work in a kindergarten? Is it becasue you have an obsession on this forum with children?
If that's what you're into then seek help

And why care so much about Poland anyway? As your profile says, you live on a "Plantation (abandoned Poland so long ago)"