The Warsaw Voice » Business » News - May 7, 2018
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EC on Polish economy
Poland is expected to enjoy 4.3% economic growth in 2018 and 3.7% in 2019 versus 4.2% and 3.6% expected previously, the European Commission wrote in its spring set of macroeconomic forecasts.
"Poland’s economy is expected to continue growing robustly with only limited moderation in 2019," the EC said in a report out on May 3. "Consumption and investment are the main growth drivers, supported by fast wage growth, strong consumer confidence and EU structural funds."
"The headline fiscal deficit is projected to decrease slightly in 2018 and remain stable in 2019, while the structural fiscal balance is expected to continue deteriorating gradually," the report reads.
Risks to fiscal forecasts are "generally balanced" as while recent announcements of new spending measures will increase both headline and structural deficits, maintaining VAT rates at higher level beyond 2018 is expected to help keep VAT revenues strong, the EC said.
Additional uncertainties regard public investment plans realization, effectiveness of new measures to increase tax compliance and the impact of recently reduced retirement age.