EBRD slightly improves Poland's GDP growth forecast to 2.3% in 2012.

By bne IntelliNews January 25, 2012
Poland's economic growth amounted to 4.2% in 2011 and will probably decelerate to 2.3% in 2012, according to the new forecasts of the European Bank for Reconstruction and Development (EBRD). In October, EBRD projected the figures at 3.7% and 2.2%, respectively (vs. 3.9% in 2010). Poland will benefit from considerable weakness in the PLN, which has fallen by over 12% against the euro since the summer. At the same time, the re-elected government has announced ambitious consolidation which will target deficit close to 3% of GDP, and the implementation of long-delayed reforms, importantly in pension rights, which has been welcomed by the markets, EBRD's report reads. However, the report sees a significant overall slowdown in growth across the EBRDs 29 countries of operations from central and south Europe to central Asia - to an average 3.1% in 2012 from 4.8% in 2011.

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