The European Commission raised expected GDP growth for Poland by 0.5 percentage points to 3.3 percent (2.8 percent in the fall forecast) for the year. Further, GDP growth for 2016 is expected to stand at 3.4 percent (3.3 percent previously).
“Growth momentum is expected to remain robust over the forecast horizon, underpinned by solid domestic demand. Private consumption is set to strengthen further, as real disposable incomes continue to rise on the back of favorable labor market developments and subdued inflation. The investment ratio is expected to continue increasing in light of low funding costs and various government measures supporting housing investment,” the spring forecast read.
Imports boosted with high domestic demand are expected to grow faster than exports, the commission also estimated.
What is more, the Polish labor market is to benefit from “the solid pace” of economic activity and production capacity.
In 2015, Poland’s inflation rate is to stand at 0.4 percent, next year it is to amount to 1.15 percent.
Warsaw Business Journal, 5th May 2015