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IMF reduces forecast for Polish economy in 2012


The International Monetary Fund (IMF) has revised downwards its forecast of economic growth in Poland next year. In its latest World Economic Outlook report, the Fund predicts that the Polish economy will grow by 3.8% in 2011, before slowing to 3.6% in 2012. This compares to 3.8% and 3.9%, respectively, in its previous projection published in January.

According to the IMF, in 2011 growth in Poland will remain solid mainly thanks to rising corporate profitability, absorption of EU funds, and a recovery in bank lending, but next year the recovery is likely to be “more subdued”. Consumer inflation will hit 4.1% this year before easing to 2.9% in 2012.

By way of comparison, the Central and Eastern Europe region as a whole is forecast to grow by 3.7% this year and 4% in 2012. Growth in Slovakia will reach 3.8% and 4.2%, in the Czech Republic 1.7% and 2.9%, and in Hungary 2.8% and 2.8%. The projected figures for the eurozone are 1.6% and 1.8%.

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