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Polish economy grew 2.7% in final quarter: statistical office

PR dla Zagranicy
Paweł Kononczuk 28.02.2017 11:27
The Polish economy grew 2.7 percent in the final quarter of last year, the country’s Central Statistical Office said on Tuesday.
Photo: pexels.comPhoto: pexels.com

The figures were in line with a flash estimate issued by the office on 14 February. That reading was better than expected by analysts, who had predicted GDP growth of 2.5 percent for the final three months of 2016.

In the final quarter of last year, domestic demand grew 2.4 percent compared with the same period in 2015. Investment fell 5.8 percent.

In a preliminary estimate at the end of January, the Central Statistical Office said that the Polish economy grew 2.8 percent last year. Polish GDP grew 3.9 percent in 2015.

The European Commission earlier this month revised downwards its projections for Poland, saying in a new forecast that the Polish economy grew 2.8 percent last year and was expected to grow 3.2 percent in 2017.

The Polish finance ministry pointed out that according to European Commission forecasts, Poland would be among the six fastest-growing EU member states.

Several days later, Finance and Development Minister Mateusz Morawiecki said the Polish economy could grow over 3.5 percent this year.

Meanwhile, JP Morgan last week revised upwards its GDP growth forecast for Poland to 3.4 percent this year from an earlier projection of 3 percent.

Poland’s 2017 budget is based on a forecast of 3.6 percent GDP growth this year.


tags: economy
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