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IMF forecasts average GDP growth at close to 4% in 2010-2013, approves expanded FCL


2011-01-24



The International Monetary Fund (IMF) expects GDP growth in Poland to slow somewhat in 2011, to 3.8% from an estimated 4% in 2010, before rising again to stabilise at close to 4% in 2012-2013. The main growth driver will continue to be domestic demand, with an anticipated rise in EU-funded public investment and a rebound in private fixed investment helped by a resumption of bank lending and improved corporate profitability, the IMF said.

The latest forecasts were released as the Fund approved a successor two-year arrangement for Poland under the Flexible Credit Line (FCL) facility, worth approximately $30bn (€22bn).

When it applied for an expanded FCL in December, the Ministry of Finance said it had no plans to use it but treated it as an insurance against external risks.



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