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The Warsaw Voice » Business » October 14, 2009
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EU More Optimistic on Polish GDP
October 14, 2009 By A.R.    
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Poland's GDP this year will grow 1 percent, the European Commission predicted in September, revising upwards its May forecast of a 1.4 percent contraction.

Joaquin Almunia, the EU commissioner for economic and monetary affairs, admitted that the commission's earlier forecasts for Poland were too pessimistic given the performance of the Polish economy in the first six months of this year.

"Poland is probably the only EU country recording a positive growth rate," Almunia said.

He added that in Poland the situation was better in the first half of the year than in the second, while in the remaining EU countries the situation is better now than in the first six months.

The Commission stuck to its projection that GDP in both the EU and the eurozone would fall 4 percent this year. Of the seven largest EU economies, the Commission predicts the sharpest contraction in Germany and Italy-by 5.1 percent and 5.0 percent respectively. France's GDP is expected to drop 2.1 percent, compared with a drop of 3.0 percent projected in May.
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