Moody's cuts Poland's sovereign rating to A3, opposition blames central bank and president

Moody's reduced Poland's sovereign credit rating to A3 on Friday, moving it down from A2 and changing the outlook from negative to stable. The rating agency said the downgrade mirrors ongoing fiscal deterioration, large deficits and a surge in public-debt burden that raise debt-service pressures. In response, members of the opposition coalition Koalicja Obywatelska launched accusations: Roman Giertych singled out the National Bank of Poland and the Monetary Policy Council chaired by Adam Glapiński as primary culprits, while Jan Grabiec blamed President Karol Nawrocki for obstructing key economic reforms such as a windfall-profits tax on fuel companies.

Both politicians framed the downgrade as evidence of governmental incompetence and warned of possible legal or parliamentary repercussions. The episode highlights growing political tension over Poland's economic policy and its impact on international credit perception.