Overall investments by the state and firms may come up to zł.298 billion in 2013. That's 2.8 percent less than in 2012 and 3 percent les than in the so far record year of 2011, economists surveyed by Rzeczpospolita predict.

Smaller level of investment may have a negative impact on the GDP growth, because – with small consumption demand – the whole economic dynamics will rest on the exports. The greatest decrease in investments is anticipated in the central and local governmental level. "We are estimating the investments in these sectors to decrease by up to 12 percent compared to 2012," said Wojciech Matysiak, economist at Pekao.

The reason for the decrease is the expiration of most of the EU funds from the 2007-2013 budget and the completion of big investment projects, including these related to Euro 2012. According to Pekao estimates, reducing public investments alone will cut the GDP growth by 0.6-0.7 percentage points.

Poland A.M.