EBRD ups Poland's 2011 GDP growth forecast by 0.4pps to 3.9%.

By bne IntelliNews January 25, 2011
The Polish economy will likely expand by 3.6% in 2010 and by 3.9% in 2011 (vs. last year's 1.7%), the European Bank for Reconstruction and Development (EBRD) has said in a report. In October, it expected the figures at 3.3% and 3.5%, respectively. It notes that "growth in Poland has again surprised positively, underpinned by resilient domestic demand and credit markets." Household consumption is expected to be weighed down by still high unemployment which remains stubbornly close to 10%, the bank added. The EBRD now forecasts overall growth in the region it covers (i.e. emerging Europe and Central Asia) of 4.2% in 2010 and in 2011, compared with October's prediction of 4.2% and 4.1%, respectively. The region as a whole contracted by 5.5% in 2009. 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