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World Bank: Polish GDP growth closer to 2.5% in 2012


The World Bank now expects GDP growth in Poland to be between 2.5-2.9% in 2012, and is leaning towards 2.5% due to deteriorating conditions and outlook for the eurozone and other developed economies, Andrew Burns, author of the bank's most recent Global Economic Prospects 2012 report, told a news conference in Warsaw on 19 January.

According to Mr. Burns, the reform measures undertaken by the Polish government are already bringing certain benefits, but substantial external risks for economic activity remain.

The bank’s latest forecast for Poland, announced in November and yet to be officially revised, is for growth of 2.9% in 2012 and 3.1% in 2013, compared with an estimated 4% in 2011.

In its latest Global Economic Prospects 2012 report the World Bank cut its 2012 forecast for eurozone economic growth from 1.8% to -0.3%, and for developed economies to 1.4% from 2.7%. Growth in developing countries is forecast to be 5.4%, rather than 6.2%. The global economy is projected to grow by 2.5% this year and by 3.1% in 2013.

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