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
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