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European Commission lifts GDP growth forecast for Poland


2011-03-02



The European Commission has revised upwards its projection of economic growth in Poland this year. In its latest interim forecast published on 1 March, which delivers a slightly improved outlook for the EU as a whole, Brussels says Poland’s GDP should increase by 4.1% in 2011, up from 3.9% in its autumn forecast, thanks to solid consumer demand helped by modest job recovery and a stronger-than-expected rebound in wages; strong public spending on infrastructure; and recovery in private investment. Quarterly growth is forecast to ease to 0.8% in Q1 before accelerating to around 1% in Q2-Q4.

None of the six other large EU economies covered in detail by the report – which together with Poland account for 80% of the bloc’s GDP – will achieve comparable growth rates in 2011. Germany is forecast to expand by 2.4%, the UK by 2%, France and the Netherlands by 1.7%, Italy by 1.1% and Spain by 0.8%. The eurozone is forecast to grow by 1.6% and EU27 by 1.8%.

According to a preliminary estimate by the Central Statistical Office (GUS), in 2010 Poland's GDP grew by 3.8%.



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