IMF cuts Poland's 2012 GDP growth forecast by 0.5pps to 2.5%.

By bne IntelliNews December 12, 2011
While Poland may be less affected by the worsening external environment than some other countries, given its lower share of exports to GDP and well-capitalized and profitable banking system, its GDP growth will slow to 2.5 percent in 2012, with large uncertainties around this forecast, according to a statement issued at the end of the International Monetary Fund's (IMF) mission to Poland. In September, IMF saw Poland's GDP growth at 3.0% in 2012. Given the possibility of escalating financial and sovereign stress in the rest of Europe, risks to Poland are firmly on the downside, it now stressed. In Q1-3 of the year, real GDP grew by 4.25%, led by fixed investment and exports, and private sector employment grew by 2.25%, it noted. The Polish government expects the 2012 GDP growth at 2.5%, similarly to the European Commission, while the central bank puts the figure at slightly above 3.0%.

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