Two major foreign banks have recently hiked their predictions for Polish GDP growth, but analysts say the revisions are just attempts by the banks to catch up to the market average, not the beginning of a big wave of corrections, reported Rzeczpospolita.

Recently, two foreign banks – BNP Paribas and Goldman Sachs – hiked their predictions for Polish GDP growth.

According to the former, the country's GDP will grow by 2.4 percent this year and by 2.7 percent next year (compared to earlier estimates of 1.6 percent and 2.4 percent respectively).

Meanwhile, Goldman Sachs forecasts the country's GDP to grow by 2.5 percent this year, compared to an earlier estimate of 2 percent.

“Upward revisions have indeed begun, but so far the ones hiking their predictions are those whose previous outlooks had been quite pessimistic,” Monika Kurtek, chief economist at Bank Pocztowy, told Rzeczpospolita.

She explained that good recent macroeconomic data and expectations of an improved situation in euro-zone economies were behind the corrected predictions.

Some analysts expect the EU's stronger-than-expected overall outlook could usher in more macroeconomic corrections.

Poland A.M.