EC downgrades Poland's GDP growth forecasts to 1.2% in 2013, to 2.2% in 2014.

By bne IntelliNews February 25, 2013
Poland's real GDP growth is projected to slow down considerably to 1.2% in 2013 (from last year's 2.0%), only to rebound to 2.2% in 2014 (and further to 2.4% in 2015), according to winter forecasts of the European Commission. In the autumn, it projected economic growth at 1.8% in 2013 and at 2.6% in 2014. Weak economic outlook of the main trading partners is expected to hamper domestic confidence and worsen the situation of exporters, resulting in constrained domestic demand growth in 2013, the Commission wrote in its report. It projects some rebound in domestic demand only towards the end of the year. Thus, EC's 2013 GDP growth forecast for Poland is at the lower end of most domestic forecasters' projections (they are in the range of 1.2-1.7%). PM Donald Tusk said that Poland's growth will be higher than projected by EC. The 2013 budget draft stipulates for GDP growth of 2.2% in 2013, but the ministry of economy recently forecast the figure at 1.7% and the ministry of finance said it hopes for a result higher than 2009's 1.6% growth.

EC downgrades Poland's GDP growth forecasts to 1.2% in 2013, to 2.2% in 2014.

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