Poland's 2014 GDP growth forecast upped to 2.8pct by EBRD
May 15, 2014
EBRD Chief Economist Erik Berglof
Poland's 2014 GDP growth projection was increased to 2.8% from 2.7% forecast in January, according to the latest EBRD growth forecast for Central Eastern Europe and the Baltics as presented by Chief Economist Erik Berglof, Wednesday, during EBRD Annual Meeting and Business Forum in Warsaw.
„Poland’s recovery continues to accelerate and the EBRD projections have been revised up to 2.8% this year and next compared with the previous forecasts from January,” EBRD report said.
Poland's 2015 GDP growth will also amount to 2.8%, according to the report.
"Data from the labor market in Q1 point to a very strong increase of real wages and further employment growth," the report said. "This should support a more balanced growth, to a large extent based on private consumption."
"Improvement of external demand leads to acceleration of industrial output, which, considering further improvement of credit conditions, will support private investments," the report read.
EBRD expects some acceleration in public investment, when the means from 2014-2020 EU budget perspective are launched.
“While the direct exposure through trade to either Russia or Ukraine remains relatively small, downside risks could materialize in terms of more adverse financing conditions for enterprises”, the report also said.