The National Bank of Poland expects the country's GDP to grow gradually from the second half of 2013 onwards, it said in its latest economic projection. However, GDP growth will remain below its potential until the second quarter of 2014, the central bank said.

NBP's analysts said that the situation will improve in 2014-2015, provided that there is an improvement in the economic situation abroad, which will positively influence domestic demand. Growth will however be slower than in 2010-2011, they said.

The main path of the NBP's projection sees GDP growth at 1.3 percent in 2013, 2.6 percent in 2014 and 3.1 percent in 2015. It also sees CPI inflation at 1.6 percent in 2013 and 2014, and at 1.5 percent in 2015.

Regarding CPI, NBP sees it falling down slightly to 1.6 percent y/y. It should remain at the similar levels throughout 2015, when NBP predicts it will hit the 1.5 percent mark.

Poland A.M.