The Coface Group, as one of the worldwide leader in credit insurance, certifies Poland in an actual country rating as positive watchlisted rating in A4. The German partner Allgemeine Kreditversicherung Coface AG (AKC), Mainz, announced the main reasons as strong economic growth and improved company payment behaviour.
After reaching 3.8% last year under the effect of a surge in exports spurred by the zloty depreciation, GDP (gross domestic product) growth could exceed 5% in 2004 amid strengthening domestic and foreign demand. A substantial imbalance in public sector finances has nonetheless continued to handicap the country. Although the current account deficit has remained relatively small, external financing needs have begun to grow again under the effect of increased debt amortisation. However, the country's moderate short-term debt and ample currency reserves will limit its vulnerability to a foreign exchange liquidity crisis.
