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E&Y places Poland among world’s 25 high-growth markets in 2011-2015


2011-11-10



Poland is one of 25 "Rapid Growth Markets" (RGM) that are set to define the global economy in the next decade with GDP growth 3.5 points faster on average than in advanced economies, according to the first issue of a new quarterly report by Ernst & Young (E&Y) and Oxford Economics.

The status of RGM is assigned on the basis of a country’s GDP growth in 2000-2010 and near-term outlook, market size, and importance and attractiveness for investors. The list, which is dominated by Latin American and Asian countries, also includes the Czech Republic, Russia, Turkey and Ukraine.

According to Ernst & Young, although the Polish economy will not be unaffected by the eurozone fiscal crisis, the scale and potential of its domestic market and the strength of its financial sector should allow it to maintain above-average economic growth in 2011-2015 of around 4%. With the country’s main trading partners facing a major economic slowdown, private consumption is expected to serve as the main growth engine over the next four years, though stable growth will also crucially depend on effective fiscal consolidation. E&Y forecasts that the Polish economy will grow by 4.1% in 2011, 3.3% in 2012, 4.3% in 2013, 4.1% in 2014 and 3.7% in 2015.



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