S&P forecasts Poland's GDP growth at 2.3% in 2012, going up afterwards.

By bne IntelliNews August 9, 2012
The baseline expectation is for Poland's economic growth to soften in 2012 to 2.3% on a moderation in external and domestic demand, according to Standard & Poor's Ratings Services. In its opinion, the economy will then steadily strengthen as global markets recover, and so boost internal demand and external trade for Poland. Fiscal policy should become less of a drag on growth once Poland reduces its budget deficit to within 3% of GDP, which we expect will happen in 2013, and once general government debt under the national definition falls below the first legally-mandated threshold, the agency noted in its press release. S&P said it could revise its forecasts for economic growth upward if the government pushes through with its structural reform agenda, including deregulating the labour market further, and streamlining and reducing business regulation. The agency also noted that Poland's broad-based economy avoided a technical economic contraction in 2009, helped by the implementation of a fiscal stimulus package.

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