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World Bank: Poland to be top performer in EU11 in 2012-2013 despite deceleration


GDP growth in Poland will decelerate to 2.9% this year before rebounding to 3.2% in 2013, the World Bank says in its latest EU11 Regular Economic Report, released on 27 June. According to the study, which examines growth prospects in 10 EU member states from Central and Eastern Europe and in Croatia, the Polish economy will perform better than any other EU11 economy in 2012 and will come second only to Lithuania next year. (In fact, Poland and Slovakia are the only countries whose growth forecasts have not been reduced since the previous issue of the report was published in November.) By way of comparison, the Czech economy is expected to show zero growth in 2012 and to grow by 1% in 2013; Slovakia is foreseen to expand by 2.1% and 3.1%, respectively; and Hungary is projected to contract by 0.4% in 2012 and to grow by 1.5% in 2013.

The study recommends three areas of policy action for the EU11 governments that it says are essential for supporting recovery amid the weak and uncertain economic outlook. They include measures aimed at shoring up confidence in the financial markets; moving ahead with fiscal consolidation plans; and implementing structural reforms to boost growth and competitiveness.

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