Poland's economy should revive in second quarter of 2013 – central bank head
February 15, 2013
Poland's central bank chief Marek Belka
Poland's economy will likely bottom out in Q1 and should start rebounding soon, as the new EU financial perspective offers a much needed "breath of optimism,", central bank head Marek Belka said in an interview for the NBP's own financial news portal obserwatorfinansowy.pl.
"I think that the Polish economy will start accelerating soon," Belka said. "The first quarter probably won't be the best but afterwards the economy will start to rebound."
Although the revival this year will still leave Poland’s GDP growth below potential, Poland's economy enjoys upside that only needs a gentle push to be released, according to Belka.
Such an impulse could come from the breakthrough in negotiations over the 2014-2020 EU budget, in Belka's view.
In order to prepare for the coming recovery, Belka urges Polish firms to kick-start their investments quickly to prod that very pick-up.
"A truly rational investor should take to investing now, as in a year the economy will already be running at a much faster pace and one can be late," he said.
Poland's GDP grew an estimated 2.0% year-on-year in 2012, according to the end-January estimate from the Central Statistical Office (GUS).
Poland's 2013 budget is built on assumption of 2.2% GDP growth.