PMR Online access    |   tel. +48 12 340 51 00    |   E-mail: info@pmrcorporate.com
 


 

Nordea: Polish GDP growth to slow below 3% in 2011


2010-11-03



Nordea, the Scandinavian financial services group, expects the Polish economy to lose some of its momentum towards the end of the year and in the first half of 2011, before accelerating again in 2012.

In its latest set of forecasts for Poland, Russia and the Baltic states, Nordea puts the projected rate of GDP growth in Poland in 2010 at 3.5%, but predicts slower growth of 2.9% in 2011. According to the bank, the rate of economic expansion is set to weaken due to a combination of three factors: a slowdown in exports owing to an anticipated slackening of growth among Poland’s main trading partners (notably Germany); the negative impact of the VAT rise and other deficit-reducing measures; and a substantial tightening of monetary policy, which will hurt credit availability.

However, in 2012 the economy will pick up speed again, with projected growth of 3.7%.



Browse and search in our archive »


subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »




Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news
 

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.