Poland's GDP growth in 2019 seen around 4.5 pct - development minister

2019-08-14 20:26 update: 2019-08-18, 20:37
Photo: PAP/Darek Delmanowicz
Photo: PAP/Darek Delmanowicz
Poland's GDP growth is likely to fluctuate around 4.5 percent for the whole of 2019, Minister of Investment and Development Jerzy Kwiecinski told PAP on Wednesday commenting on the 4.4 pct y/y Q2 reading by the central statistical office (GUS).

"If GUS's Wednesday's flash estimate is confirmed (...) the GDP growth in 2019 will oscillate around 4.5 percent," Kwiecinski said.

The minister added that the Q2 reading indicates a more than three times faster growth in Poland than in any other EU country.

He also said that the development of our economy is positively affected by Poland having its own currency and how its exchange rate is shaped. 

Earlier on Wednesday, Deputy Finance Minister Leszek Skiba said that the official estimates by the Finance Ministry, which see Poland's GDP growth at 4.0 percent in 2019, "seem to be safe." 

"The main risk factor for the the short-term prospects of the Polish economy is the external environment, including the situation on our main export markets. This year, Polish GDP growth will be lower than in 2018, although our official estimates, that present GDP at 4 percent, seem to be safe," Skiba said. 

Poland's GDP grew by 4.4 percent year on year in the second quarter of 2019 after a 4.7 percent growth in the first quarter, GUS said in its earlier flash estimate. In quarterly terms, GDP increased by 0.8 percent. Economists polled by PAP expected the economy to grow by 4.5 percent year on year in the second quarter. 

In July's projection, the National Bank of Poland predicted that GDP growth in 2019 would reach 4.5 percent. (PAP)