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PKPP Lewiatan: GDP growth to reach 3.8% in 2010, pick up in 2011


The Polish economy expanded by 3.8% in 2010 and GDP growth is likely to accelerate in 2011, but not very substantially, according to a report by the Polish Confederation of Private Employers (PKPP) Lewiatan.

According to the Confederation, economic growth in 2010 was supported mainly by consumption, but also by stock rebuilding, while business investment remained subdued even despite improved availability of credit, due to companies’ uncertainty about the strength of the recovery. At the same time, the contribution to GDP growth of rapidly growing exports was offset by an even stronger acceleration in imports.

The Confederation predicts that the Polish economy will gradually pick up speed in 2011. However, it points to two substantial downside risks to this scenario, notably potentially negative effects of the government’s fiscal retrenchment programme and flagging global growth.

See also the news item 'PKPP Lewiatan: Polish firms await full recovery to start investing'.

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