🇵🇱 Poland
Public Sector Debt · 2026
Total Debt
58.9%
of GDP
Global Rank
#94
of 192
S&P Rating
A
Credit rating
SOE Debt
+3.8%
1 categories
5yr Change
+3pp
rising
Where the Debt Sits
Central Government
Subnational
Central Government: 44.1%Subnational: 11.0%Energy SOEs: 3.8%
Who Holds This Debt
Holder Breakdown
Domestic 68%
Foreign 32%
Domestic: 68%Foreign: 32%
Currency Denomination
Local 78%
Foreign 22%
Local currency: 78%Foreign currency: 22%
Full Debt Breakdown
Central Government44.1% of GDP
Central GovernmentEurostat — Government Debt (Maastricht)
44.1%Subnational / Regional11.0% of GDP
SubnationalEurostat — Government Debt (Maastricht)
11.0%Energy SOEs3.8% of GDP
PGE, Orlen, KGHM, PKP (state energy, mining, rail)Company annual reports / Warsaw Stock ExchangeMajor state-controlled companies: PKN Orlen (energy, ~$15B debt), PGE (electricity), KGHM (copper mining), PKP (railways).
3.8%Total Corporate Debt35.1% of GDP
Nonfinancial corporate debtBIS/FRED Q3 2025
35.1%Household Debt22.3% of GDP
Household debtBIS/FRED Q3 2025
22.3%Unfunded Pension Liabilities210.0% of GDP
Public pension unfunded (net of ZUS capital)Eurostat Table 29 (2021)Total entitlements ~250% GDP. Partial funded component via ZUS capital ~40% GDP. Reversed pension privatization in 2014.
210.0%All Layers Total326.3%
Credit Ratings
S&P
A
Moody's
A2
Fitch
A-
Data Sources
Eurostat — Government Debt (Maastricht)general_government · Updated semi_annual
Dec 202455.1% GDP
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