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The Warsaw Voice » Business » May 18, 2017
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Poland's GDP growth predictions
May 18, 2017   
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Poland's GDP is likely to continue growing at a 4% clip throughout the year despite one-offs having boosted its Q1 growth rate, according to most economists cited by daily Parkiet.
The fact that Q1 growth rate turned out robust despite a high reference base only reinforces the message, BZ WBK economist Grzegorz Ogonek notes. All growth drivers: consumption, exports and investments must have been humming along in Q1 to achieve such a strong growth rate, he adds.
Consumption remains the economy’s main tailwind, having likely grown at 4.6% year on year, its best showing since 2008, Millennium’s chief economist Grzegorz Maliszewski says. Private spending is supported by good labor market situation, rising real incomes and consumer optimism, he adds.
Foreign trade deficit fueled by rising imports due to strong consumption and rebounding investments may however prove to be a headwind for the GDP growth, economists cited by daily Rzeczpospolita say. Despite the expected strong GDP growth, the MPC is unlikely to raise interest rates before 2018 when the economic acceleration may be better reflected inflation figures.
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