Poland's economy will expand at a rate of 1.5% in 2013, down from 1.9% in 2012, according to new forecasts presented by the ministry of economy's analysts. In January, they projected the 2013 GDP growth at 1.7%, when the ministry of finance stuck to the budget forecast of 2.2%. However, in April, the government passed the ministry of finance-proposed update to Poland's EU convergence report with the 2013 GDP growth forecast of 1.5% (and 2.5% for 2014).
The ministry of economy's experts expect inflation to ease significantly this year - they project the average annual inflation at 1.2% in 2013, down from 3.7% in 2012 (and 4.3% in 2011).
However, they do not envisage any significant improvement on the labour market - they expect the registered unemployment rate at 13.8% in December of 2013 vs. 13.4% a year earlier and compared to 14.0% in April of 2013.
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