EBRD reiterates Poland's 2011 GDP growth forecast at 3.8%.

By bne IntelliNews July 25, 2011
The Polish economy will likely expand by 3.8% in 2011 and by 3.5% in 2012 (vs. last year's 3.8%), the European Bank for Reconstruction and Development (EBRD) has said in a report. In May, it expected the 2011 figure at 3.8% vs. 3.9% projected In January. "In Poland, short-term indicators point to a weakening in export growth, though domestic consumption remains on an upward trend, as evident in the first quarter growth numbers. Fiscal policy has shifted toward consolidation in recent months (though a 2012 budget will only be adopted after the elections in October)," the report reads. The EBRD now forecasts overall growth in the region it covers (i.e. emerging Europe and Central Asia) of 4.8% in 2011 (vs. 4.6% projected in May) and of 4.4% in 2012 (unchanged from May). The region as a whole grew by 4.6% in 2010. ISB, tom

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