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Nomura bullish about outlook for Polish economy


Nomura, the Japanese investment bank, has published what is the most optimistic forecast yet of Polish GDP growth in 2011 by a major financial institution. The company expects the Polish economy to expand by 4.5% next year and by 4.6% in 2012, a substantial acceleration from an estimated 3.8% in 2010 and ahead of the projected rate of global economic growth during the next two years.

According to the Japanese bank, preparations for the Euro 2012 football championships will provide a strong stimulus to business investment next year, with business investment in the private sector expected to swing into growth of 12.2% in 2011 from an estimated decline of 3.1% this year.

At the same time, Nomura expects that the pace of deficit reduction will be slower than planned by the government, and that public debt will continue to hover close to 55% of GDP.

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