EBRD raises Poland's 2010 GDP growth forecast to 2.3%.

By bne IntelliNews January 25, 2010
The European Bank for Reconstruction and Development (EBRD) has raised its forecast for Poland's GDP growth to 2.3% in 2010 from 1.8% expected in October, the institution has said in a report. It estimates the 2009 growth at 1.4% (vs. October's 1.3%) and expects the Polish economy to expand by 3.0% in 2011. The EBRD has upgraded the forecasts for the entire region consisting of 30 countries from Central Europe to Central Asia, including Turkey, "reflecting a slightly faster economic recovery than anticipated last October, but with stark variation across the region." Following a contraction of real GDP of about 6.0% in 2009, the EBRD now expects average growth for the region of 3.3% in 2010, compared to 2.5% predicted in October. For 2011, the EBRD predicts average regional growth of 3.8%. "The upward revision is driven by stronger than expected performance in four large economies in the region: Poland, Turkey, Russia, and Kazakhstan, on the back of stronger commodity prices, and a resumption of capital flows to large emerging market countries," the institution explained. The government assumes (in the 2010 central budget law) GDP growth of 0.9% in 2009 and 1.2% in 2010. Earlier, its representatives repeatedly admitted that the economy might expand by up to 1.5% already in 2009 and would pick up further next year, possibly reaching (according to deputy PM Waldemar Pawlak) 3.0%. tom

Related Articles

EC refers Poland to court for delay on renewable energy rules.

The European Commission is referring Poland (and Cyprus) to the Court of Justice of the European Union for failing to fully transpose EU's Renewable Energy Directive, according to the ... more

ZEW Economic Sentiment Indicator for Poland surges to 42.9pts in February.

The ZEW-Erste Group Bank Economic Sentiment Indicator for Poland (economic expectations) surged by 22.3pts m/m to 42.9pts in February, according to a report by the Center for European Economic ... more

FinMin: Poland to inject EUR 5.5bn of FX reserves to ECB upon euro-zone entry.

When Poland joins the euro-zone, it will have to transfer EUR 5.47bn of its foreign-currency reserves to the European Central Bank, according to a statement by the ministry of finance. The ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss