EBRD slightly improves Poland's GDP growth forecast to 2.3% in 2012.

By bne IntelliNews January 25, 2012
Poland's economic growth amounted to 4.2% in 2011 and will probably decelerate to 2.3% in 2012, according to the new forecasts of the European Bank for Reconstruction and Development (EBRD). In October, EBRD projected the figures at 3.7% and 2.2%, respectively (vs. 3.9% in 2010). Poland will benefit from considerable weakness in the PLN, which has fallen by over 12% against the euro since the summer. At the same time, the re-elected government has announced ambitious consolidation which will target deficit close to 3% of GDP, and the implementation of long-delayed reforms, importantly in pension rights, which has been welcomed by the markets, EBRD's report reads. However, the report sees a significant overall slowdown in growth across the EBRDs 29 countries of operations from central and south Europe to central Asia - to an average 3.1% in 2012 from 4.8% in 2011.

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