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BNP Paribas upgrades growth outlook for Poland


BNP Paribas has raised its forecasts of economic growth in Poland this year and next, following an upward revision of its outlook for the German economy. The French bank now expects GDP growth in Poland to be 2.4% in 2012, up from previously projected 1.6%, and 2.7% in 2013, up from 2.4%.

BNP Paribas also upgraded its forecast for Central Europe to 1.4% from 0.6% in 2012, and to 2.6% from 2.2% in 2013.

In its commentary the French bank says it expects both exports and domestic demand in Central Europe in 2012 to be stronger than it forecast three months ago, but that this year is still set to be difficult for the region. The main risk factors are the eurozone debt crisis and rising oil prices caused by tensions over Iran, which could restrict access to credit and eat into purchasing power.

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