EBRD ups Poland's 2010 GDP growth forecast by 0.1pps to 2.7%.

By bne IntelliNews July 23, 2010
The Polish economy will likely expand by 2.7% in 2010 and by 3.3% in 2011, the European Bank for Reconstruction and Development (EBRD) has said in a report. In May, it expected the figures at 2.6% and 3.3%, respectively. This year's growth is led by still resilient domestic demand, though this could prove fragile. ,,As the public debt burden approaches its legal limit of 55% of GDP, and the fiscal deficit remains sizable (around 7% of GDP), further measures to rein in the structural deficit will be needed," the EBRD also stressed. The government expects GDP growth of above 3.0% in 2010 and of 3.5% in 2011. The EBRD has revised downward its average growth forecasts for the region to 3.5% in 2010 from the 3.7% predicted in May . The growth forecast for 2011 was also revised downward marginally to 3.9% from 4.0%, respectively. The report warns that significant uncertainty remains as the outlook for the remainder of 2010 and for 2011 is generally weaker than recent economic activity suggests. tom

Read in IntelliNews Pro
Get IntelliNews Pro

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

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss