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GDP grew 1.6% in 2013 - flash estimate

31st January 2014
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The result is slightly higher than analysts' expectations

Poland's economy slowed down in 2013 but is expected to pick up this year

Poland’s GDP growth in 2013 amounted to 1.6 percent, according to a flash estimate released by the Central Statistical Office (GUS), Thursday. The figure is a drop of 0.3 percentage points on 2012, when GDP came in at 1.9 percent. The GUS statistics reveal that national demand dropped by 0.2 percent in 2013, while investments also dropped by 0.4 percent after falling 1.7 percent in 2012. Individual consumption grew by 0.8 percent in 2013 (1.2 percent in 2012), while general consumption grew by 1.1 percent (1.0 percent in 2012).

Economists surveyed by the Polish Press Agency estimated that Poland’s GDP growth in 2013 would amout to 1.5 percent. The Finance Ministry also gave the same figure in its recent GDP estimate. Last year’s budget accounted for 2.2 percent GDP growth, although that number was too optimistic.

Nevertheless, Finance Minister Mateusz Szczurek believes that GDP growth may amont to 2.9 percent in 2014, in line in estimates from the National Bank of Poland. Meanwhile, the budget accounts for GDP growth at 2.5 percent this year.

Poland A.M.

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