The European Commission raised expected GDP growth for Poland to 3.5 percent for this, next year and 2017.
In the Spring edition of the report, the EC predicted Poland’s economy to grow by 3.3 percent this year, by 3,4 percent next year and to remain at 3.4 percent in 2017.
This year, Poland (alongside Romania) is to be Europe’s fourth fastest growing economy, after Ireland, Malta and the Czech Republic.
Economic activity is set to remain robust on the back of solid domestic demand, bolstered by improving labor market conditions and rising disposable income. The Russia-Ukraine crisis and weak demand in the euro area are now forecast to have a smaller impact than previously expected. Consumer prices should start rising again moderately, on the back of base effects in food prices and robust domestic demand Inflation is expected to average -0.2 percent this year and to increase to 1.4 percent next year, the EC also reported.
Growth this year is forecast to rise to 1.7 percent for the EU as a whole and to 1.3 percent for the euro area. In 2016, economic activity should grow by 2.1 percent and 1.9 percent respectively.
Warsaw Business Journal, 5th November 2015