EBRD reiterates Poland's 2011 GDP growth forecast at 3.8%.

By bne IntelliNews July 25, 2011
The Polish economy will likely expand by 3.8% in 2011 and by 3.5% in 2012 (vs. last year's 3.8%), the European Bank for Reconstruction and Development (EBRD) has said in a report. In May, it expected the 2011 figure at 3.8% vs. 3.9% projected In January. "In Poland, short-term indicators point to a weakening in export growth, though domestic consumption remains on an upward trend, as evident in the first quarter growth numbers. Fiscal policy has shifted toward consolidation in recent months (though a 2012 budget will only be adopted after the elections in October)," the report reads. The EBRD now forecasts overall growth in the region it covers (i.e. emerging Europe and Central Asia) of 4.8% in 2011 (vs. 4.6% projected in May) and of 4.4% in 2012 (unchanged from May). The region as a whole grew by 4.6% in 2010. ISB, tom

Related Articles

EC refers Poland to court for delay on renewable energy rules.

The European Commission is referring Poland (and Cyprus) to the Court of Justice of the European Union for failing to fully transpose EU's Renewable Energy Directive, according to the ... more

ZEW Economic Sentiment Indicator for Poland surges to 42.9pts in February.

The ZEW-Erste Group Bank Economic Sentiment Indicator for Poland (economic expectations) surged by 22.3pts m/m to 42.9pts in February, according to a report by the Center for European Economic ... more

FinMin: Poland to inject EUR 5.5bn of FX reserves to ECB upon euro-zone entry.

When Poland joins the euro-zone, it will have to transfer EUR 5.47bn of its foreign-currency reserves to the European Central Bank, according to a statement by the ministry of finance. The ... more