PMR Online access    |   tel. +48 12 340 51 00    |   E-mail:


BPH forecasts 3.2% growth in 2012


BPH, the bank owned by GE Money, has upgraded its estimate of economic growth in Poland this year and adopted a projection for 2012 that assumes GDP growth will remain above 3% next year.

BPH raised its forecast of GDP growth in 2011 to 4.1% from 4%, after a stronger-than-expected contribution from net exports in the third quarter. The bank expects the economy to expand by 3.5% y-o-y in Q4.

The year 2012 is set to bring a further softening of consumption and a likely slowdown in investments, with net exports assuming a greater role in sustaining economic growth, according to BPH. The bank’s baseline scenario assumes that the overall slowdown will be limited, however, with the economy projected to grow by 3.2% next year. But the forecast has very high risks on the downside, BPH noted, due to the debt crisis in the eurozone and the condition of Europe’s banks.

The unemployment rate is forecast to be 12.9% at the end of 2012, up from 12.7% projected for end-2011. Inflation is to remain above 3% next year, down from around 4% at the end of 2011.

Browse and search in our archive »

subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »

Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.