IMF sees Poland's GDP growth at 4.0% in 2011, 3.8% in 2012.

By bne IntelliNews May 13, 2011
Poland's economy will likely expand by 4.0% in 2011 and by 3.8% in 2012 vs. last year's 3.9%, the International Monetary Fund has said upon completing its mission to Poland. In the April edition of its World Economic Outlook, it projected Poland's GDP growth at 3.8% in 2011 and at 3.6% in 2012, while in 2016 - at 3.9%. The GDP growth will be underpinned by steady growth of private consumption, strong EU-funded public investment, and an upturn in private fixed investment, the MFW said in a release. The Fund also expects employment growth to remain solid, leading to a fall in the unemployment rate by 2012. Tightening capacity constraints and the VAT rate hike are pushing up core CPI inflation, while high global commodity prices are boosting headline CPI inflation, it continues. The IMF also expects the current-account deficit to grow to 4.2% of GDP in 2012, but most of it would be financed by net EU capital transfers and net FDI. ISB

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