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EBRD: GDP growth to be 2.7% in 2012


The European Bank for Reconstruction and Development (EBRD) has upgraded its forecast of economic growth in Poland this year to 2.7% from 2.3% projected in January, and adopted a 2.9% growth forecast for 2013.

In its Regional Economic Prospects in EBRD Countries of Operations report, released on 18 May, the Bank notes that while the 2011 growth outcome in Poland exceeded expectations, further underscoring its economy’s resilience to the crisis in the eurozone, in 2012-2013 “growth should be significantly held back as public infrastructure spending abates and as some social transfers are scaled back”.

The Baltic economies are expected to grow faster than Poland’s in 2012-2013. Latvia is projected to see growth of 3.5% this year and 3.3% next, Lithuania 2.8% and 2.9%, and Estonia 2.4% and 3.4%. The Slovak economy is forecast to grow by 2.2% and 2.6%, while Hungary is to experience a 0.1% contraction of output in 2012 and a modest growth of 0.7% in 2013.

The Central Europe and the Baltic States region as a whole is forecast to grow by 1.6% in 2012 and by 2.3% in 2013.

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