European Commission raises Poland's GDP growth forecast
The European Commission (EC) on Wednesday raised Poland's 2018 economic growth forecast to 4.3 percent from its previous estimate of 3.8 percent, and to 3.7 percent from 3.4 percent in 2019.
In 2018, the Polish economy will continue to develop in a dynamic way, with some limited slowdown in the pace of growth in 2019.
A major contribution to growth will come from domestic demand and investments according to the EC.
Individual consumption in Poland is to gradually decrease from 4.1 percent forecasted in 2018 to 3.4 percent in 2019, but as economists of the European Commission emphasise it will remain at a high level, supported by high wage growth, and strong consumer confidence.
Public investment is expected to grow rapidly this year thanks to an inflow of EU structural funds, the EC noted. A slight increase in public investment is also forecasted in 2019.
Poland's inflation is expected to fall to 1.3 percent in 2018, and then go up in the wake of rising wages (2.5 percent in 2019). In 2017, Poland recorded 1.6 percent inflation. (PAP)
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