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EU lowers economic growth forecast for Poland

PR dla Zagranicy
Roberto Galea 10.11.2016 09:32
The European Commission on Wednesday lowered its forecast growth of Polish GDP in 2016 to 3.1 percent, from 3.7 percent.
Photo: Flickr.com/włodi
Photo: Flickr.com/włodi

The forecast for 2017 was lowered to 3.4 percent, from the earlier 3.6 percent.

"Private consumption is set to remain the main growth driver, supported by accelerating wage growth and fiscal transfers," the Commission said in a statement.

"Investment activity is expected to contract in 2016, but should gradually recover as utilisation of EU funds picks up. Price pressures are set to remain subdued. The headline general government deficit is projected to decrease slightly in 2016, but to widen in 2017 and 2018,” it added.

“Falling investment was the main factor behind the 0.1 percent (q/q) decline in GDP in the first quarter of this year. Investment continued to fall in the second quarter but strong exports lifted GDP growth to 0.9 percent (q/q)."

The Polish government has not yet commented on the report. (rg)

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