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Polish GDP growth forecasts cut by OECD

29th November 2011
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Poland's gross domestic product will grow by 2.5 percent in 2012 and 2013, compared to 4.2 percent this year, according to the Organization for Economic Cooperation and Development (OECD). The body's previous prediction for 2012 and 2013 was 3.8 percent.

The OECD wrote in a report that Poland's economy will likely slow “noticeably” in the next two years as a result of austerity measures and the continuation of the euro-zone debt crisis.

“GDP growth is projected to slow noticeably in 2012 and 2013” due to “fiscal consolidation and sluggish external demand, which will in turn weaken private consumption and public and private investment,” the OECD wrote.

However, the OECD added that the depreciation of the złoty and the upcoming Euro 2012 soccer championships will partly offset the forecast weakness in domestic demand.


From Warsaw Business Journal by David Ingham


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