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EBRD, BNP Paribas forecast GDP growth in Poland below 2.5% in 2012


The Polish economy will grow by 3.7% this year before slowing to 2.2% in 2012, the European Bank for Reconstruction and Development (EBRD) said in its latest forecast. According to the EBRD, the Polish government will need to adopt extra measures if it is to meet its ambitious fiscal targets for 2012, notably bringing the general government deficit below 3% of GDP.

Meanwhile, BNP Paribas, the French banking group, has adjusted its projection of economic growth in Poland next year to 2.3%, down from 2.5% forecast in August. According to the bank, although the government is likely to push through a substantial fiscal tightening, the anticipated slowdown of economic growth will make a more pronounced cut in the deficit impossible, with the general government deficit forecast to be 4.9% of GDP in 2012.

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