Poland Economic Recovery Largest Among EU Eastern Nations
February 26, 1914
Poland will experience the fastest growth this year among the European Union’s largest former communist members, as falling unemployment and slow inflation fuel domestic demand, the European Commission said.
Poland’s economy will expand 2.9 percent this year and 3.1 percent in 2015, faster than last year’s 1.6 percent, the commission said today in its winter forecasts in Brussels. The 2014 estimate for Poland is the third-fastest in the EU behind Latvia and Lithuania.
Eastern Europe’s growth is picking up pace as a recovery strengthens in the euro area, which buys the bulk of the region’s goods. Improving employment prospects and looser credit conditions are also making consumers more confident to spend.
As growth gathers speed and companies add workers, the Polish unemployment rate will fall to 10.1 percent by 2015 from 10.4 percent last year, bolstering real disposable-income growth, according to the report. Inflation will remain at an average of 1.4 percent this year and 2 percent next year, compared with 0.8 percent in 2013.