European Commission Predicts Poland's GDP Growth Highest in EU
Poland's GDP is expected to grow by 2.6% in 2010 versus 1.8% forecast
earlier, while HICP is seen at 2.3% vs November assumption for 1.9%,
the European Commission's revised forecast shows.
"The recovery would continue to be driven by exports, which will
benefit from the rebound in external demand and the lagging positive
effects of the past exchange rate depreciation," the interim forecast
reads.
The FX effect will however gradually fade away and domestic demand will
become the main driver of growth in 2010, the forecast reads on.
Investment is projected to recover slowly after the drop recorded in
2009, which will reflect "robust public spending in capital
expenditure, firming-up production expectations and improved perception
of the Polish economy among foreign investors," the EC forecasts.
"Private consumption is expected to contribute moderately positively to
growth," supported by a marked increase in social transfers and
better-than-expected developments in the labor market.
Blog by Michael Clay
European Commission Predicts Poland's GDP Growth Highest in EU
Michael Clay - Wednesday, March 03, 2010
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