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EBRD raises growth forecast for Poland in 2010


2010-10-29



The European Bank for Reconstruction and Development (EBRD) has upgraded its forecast of economic growth in Poland this year and next, its second upward revision in three months. The EBRD now expects the Polish economy to expand by 3.3% in 2010 before accelerating to 3.5% in 2011. This compares to 2.7% and 3.3%, respectively, in its previous projection published in July.

According to the Bank, although the persistently high unemployment rate will probably put a drag on household spending, and while currency trends have grown less favourable to exports than during the crisis, Poland’s relatively strong domestic demand means the economy will continue to grow at a robust pace.

By way of comparison, the updated forecast for Central Europe and the Baltic states puts projected growth in the region at 2.2% in 2010 and 3% in 2011. Economic growth in Slovakia is forecast to reach 4% this year and 3.5% next, and the new projection for Hungary envisages growth of 0.8% and 1.7%, respectively (the EBRD no longer produces forecasts for the Czech Republic).



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