EBRD again improves Poland's GDP growth forecast, by 0.4pps to 2.7% in 2012.

By bne IntelliNews May 21, 2012
Poland's economic growth will probably amount to 2.7% in 2012 and will accelerate to 2.9% in 2013 (vs. 4.3% in 2011), according to the new forecasts of the European Bank for Reconstruction and Development (EBRD). In January, EBRD projected the 2012 figure at 2.3%, while in October - at 2.2%. Last year's growth outcome in Poland exceeded earlier expectations, and once again underlined the resilience of the economy to vulnerabilities in the euro-zone, EBRD noted. However, this year and next growth should be significantly held back as public infrastructure's spending abates, and some social transfers are being scaled back, its report reads. The Polish government sticks to its 2.5% GDP growth forecast, similarly to the recently upheld estimate of the International Monetary Fund (IMF), while the European Commission recently raised its projection to 2.7% (from 2.5%) and Fitch Ratings forecasts growth of 2.8%.

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