IMF raises Poland's 2014 GDP growth forecasts by 0.3pps to 2.7%

By bne IntelliNews November 24, 2013

Poland's economic growth will accelerate to 2.7% in 2014, according to forecasts of the International Monetary Fund (IMF) presented in Warsaw. In October, the Fund projected Poland's 2014 economic growth at 2.4%.
IMF has retained its forecasts concerning the 2013 GDP growth at 1.3% (vs. last year's 1.9% expansion). It stressed that the growth's acceleration will take place thanks to domestic demand.
The Fund also noted that the current monetary policy stance in Poland is proper.
Poland's general government deficit will probably rise to 4.6% of GDP in 2013 from 3.9% of GDP in 2012, but will ease to 3.5% of GDP next year, according to IMF. It estimates that the planned changes to the open pension funds (OFE) system (writing off 51.5% of their portfolios) will allow to reduce public debt by around 9pps, but it called for further reforms of the pension system in Poland.

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