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The Warsaw Voice » Business » June 3, 2015
Business & Economy
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In Brief
June 3, 2015   
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ECONOMY
The Polish economy will grow 3.4 percent this year, according to the latest forecast by the European Bank for Reconstruction and Development (EBRD). In its new report, the bank has revised upward its forecast for Polish GDP growth, from 3 percent projected in January.

The EBRD has also upgraded its 2015 GDP growth forecast for the entire region of Central Europe and the Baltic States. It also revised upward its forecast for countries including Russia, while revising downward its projections for Ukraine, Latvia, Lithuania and Belarus.

FOREIGN TRADE
Poland’s exports increased by 5.2 percent in the first quarter of this year, while imports fell by 1 percent, according to the government’s Central Statistical Office (GUS). The country’s exports totaled 42.4 billion euros in the first quarter, while imports amounted to 40.4 billion euros, resulting in a 2-billion-euro foreign trade surplus, against a 400-million-euro deficit a year earlier.


FINANCE
Poland spent zl.336.9 billion (around 84 billion euros) on projects co-financed by the European Union under its 2007-2013 budget, according to the Polish Ministry of Infrastructure and Development. Of this, EU co-financing totaled zl.239 billion (around 60 billion euros), the ministry said.

Meanwhile, Poland has 82.5 billion euros to spend under the EU’s cohesion policy for 2014-2020. The funds will go toward projects that contribute the most to the country’s economic growth as well as those that help increase employment and modernize the Polish economy.


INNOVATION
In a bid to help Polish companies gain experience, expertise and business partners in Silicon Valley, California, the Polish Ministry of the Economy has launched a special Silicon Valley Acceleration Center together with the Polish embassy in the United States. The center aims to carry out programs aimed at helping Polish start-ups go international and attracting foreign capital to Poland.
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