Polish FinMin expects GDP growth acceleration to 3.0% y/y in Q1 of 2014

By bne IntelliNews May 14, 2014

Poland's economic growth probably accelerated to 3.0% y/y in Q1 of 2014 from 2.7% y/y a quarter earlier, the ministry of finance's chief economist Ludwik Kotecki has told the Polish Press Agency.

Earlier, vice PM and minister of economy Janusz Piechocinski also said that the Q1 growth will be around 3.0% y/y.

Market consensus for the Q1 figure is 3.0-3.1% y/y. National stats office GUS is due to present its flash estimate of the Q1 GDP growth on May 15 and the first estimate (with GDP's break-down) - on May 30.

Overall, Poland's economy is deemed to have started the recover a few months ago. Virtually all analysts and institutions agree that GDP growth will at least reach 3.0% y/y in the whole of 2014 compared to 1.6% reported for 2013.

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