Poland among three fastest-growing EU economies: finance minister

Teresa Czerwińska was speaking after the EU’s executive arm, the European Commission, on Thursday raised its forecast for Polish GDP growth this year to 4.6 percent from an earlier estimate of 4.3 percent.

The European Commission's Summer 2018 Interim Economic Forecast “shows that Poland will be one of the European Union’s three fastest-growing economies this year,” Czerwińska said, as quoted by Poland’s PAP news agency.

She added that the upgraded projection for Poland came on the back of “a good GDP reading for the first quarter of 2018 resulting from strong domestic demand and a marked improvement in investment coupled with an increased use of production capacity,” PAP reported.

Poland’s investment and development minister said last month that the Polish economy was set to grow over 4 percent this year.

Jerzy Kwieciński said at the time he expected GDP growth in the second quarter to be close to the 5.2 percent in the first three months of this year.

According to Poland’s Central Statistical Office, the country’s GDP grew 4.9 percent in the final quarter of 2017 and expanded 4.6 percent in 2017 as a whole.

(gs)

Source: PAP