Polish Growth Set to Accelerate says European Commission
- New Europe Investor
- November 05, 2015
The European Commission has revised its growth predictions upwards for the Polish economy for 2015 and the following two years.
It has increased its Polish growth forecast for 2015 from 3.3% earlier in the year, to 3.5%. In addition, the Commission stated that growth will remain at around 3.5% for 2016 and 2017.
In the report, they wrote, “Economic growth in Poland is expected to remain robust and stable, driven by domestic demand. Private consumption should benefit from the strong labour market. Deflation is expected to come to an end this year, but price pressures are set to remain subdued.”
They expect Polish inflation to be 1.4% in 2016, slightly above an EU average of 1.3%.
Poland is set to be the European Union’s fourth fastest growing economy this year according to the Commission’s predictions, with Ireland, Malta and the Czech Republic making up the top three.