Poland's sovereign rating cut prompts PiS deputy to demand emergency finance committee meeting

Moody's announced a downgrade of Poland's sovereign rating, moving the long-term grade from A2 to A3 and the short-term grade from P-1 to P-2, due to deteriorating fiscal fundamentals. The agency noted increasing public debt, higher debt-service expenses, and a sizable fiscal deficit, while also mentioning the strain from defence, health and extensive social-welfare spending. PiS vice-president Przemysław Czarnek, a former education minister, responded at a press conference organized by the Ministry of Finance, urging the submission of a request for an extraordinary session of the Commission of Public Finances.

He demanded that Finance Minister Domański explain one outlet fiscal situation and the cost of debt servicing after the rating cut. Czarnek emphasized that the downgrade places Poland in a very difficult position, making borrowing both harder and more expensive.