World Bank upholds Poland's 2011 GDP growth forecasts at 4.1%.

By bne IntelliNews January 19, 2011
The World Bank has upheld its forecast of Poland's GDP forecast at 4.1% for 2011, the organization said in its "Global Economic Prospects 2011" report, presented in Warsaw. In 2012, the Polish economy will likely expand by 4.5%, according to the World Bank. In November, the World Bank raised its forecast for Poland's GDP growth to 3.5% for 2010 from 3.0% expected in July and to 4.1% for 2011 from 3.7%, respectively. In the current report, the organisation expects Poland's private consumption to rise by 3.8% in 2011 and by the same ratio in 2012, while government consumption - by 1.6% and 2.6%, respectively. Fixed investment is projected to increase by 7.6% and 10.8, respectively. In early January, finance minister Jacek Rostowski said that Poland's economic growth exceeded 3.7% in 2010 (vs. 1.7% in 2009) and was likely to accelerate further this year, if the euro-zone did not witness a major crisis. ISB

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