EBRD predicts 2.3% GDP growth in Poland in 2010

2010-02-22



The Polish economy will expand by 2.3% this year and by 3% in 2011, according to latest forecasts from the European Bank of Reconstruction and Development (EBRD), presented in Warsaw last week at the official presentation of its Transition Report 2009.
The Bank notes that Poland has fared better than most other transition countries during the global downturn, thanks to “its progress with macroeconomic policy in recent years”. However, the EBRD warns about significant challenges to macroeconomic and financial stability, most notably deteriorating fiscal balance and credit quality and rising unemployment. According to the bank, in order to secure higher potential future growth, the country needs to press on privatisation, investments in transport and energy infrastructure, implement structural reforms and redouble efforts to raise labour market participation and improve innovation and human capital.
Of the major countries of Central and Eastern Europe, three countries are predicted to achieve faster growth than Poland this year and next: Slovakia (by 2.8% and 3.7%, respectively), (Ukraine (3%, 3%) and Russia (3.9%, 4.2%).