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Citigroup: GDP growth to be 1.3% in 2013


The Polish economy will grow by 2.1% this year and by 1.3% in 2013 due to weaker domestic demand, Citigroup says in a new forecast.

The global bank reckons easing inflationary pressures will open the door to interest rate cuts that will take the main reference rate to 3.25% at the end of 2013. This, in turn, will contribute to a gradual depreciation of the zloty.

Citigroup expects the eurozone to remain in recession in 2013 and 2014 and to post only modest recovery thereafter.

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