World Bank: GDP growth to be 1.5% in 2013

2013-01-17



The Polish economy will expand by 1.5% this year compared with an estimated 2.2% in 2012, amidst weak domestic demand and a minimal output contraction in the eurozone, the World Bank predicts in its new EU11 Regular Economic Report, released on 17 January.
The bank expects the contribution of net exports to remain relatively strong in Poland in 2013, with private consumption and investment showing weakness.
By way of comparison, in the Czech Republic GDP growth is forecast to be 0.8% this year, compared with a 1.3% contraction in 2012; Slovakia’s economy is projected to expand by 1.6%, down from 2.5%; whereas Hungary is expected to post slightly positive growth of 0.4%, following a decline of 1.5% in 2012.
Growth in the EU11 group, which comprises Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia, is forecast to accelerate to 1.3% from 0.9%.
The euro area is also expected to perform better than last year, posting a minimal -0.1% contraction, compared with -0.4% in 2012.