OECD forecasts Poland's GDP growth down to 3.0% in 2012, 2.7% in 2013.

By bne IntelliNews March 29, 2012
Poland's economic growth will slow to below 3% during 2012-2013, primarily as a result of weak activity in Europe, according to a report by the Organization for Economic Cooperation and Development (OECD). It now forecasts the 2012 growth at 3.0% and the 2013 figure at 2.7% vs. last year's 4.3%, while in the autumn, it projected the growth at 2.5% for both 2012 and 2013. Poland has been the best growth performer within the OECD through the global economic crisis, the Organization noted. Yet, Poland is not immune to contagion risks from its European trading partners. Under a scenario of a sharper than projected slowdown, Poland would have policy space to cushion the shock by easing monetary conditions, provided that the zloty does not weaken substantially. On the other hand, automatic fiscal stabilizers should be allowed to work within the constraints imposed by the constitutional debt rule.

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