EBRD cuts growth forecasts for Poland and CEE
PR dla Zagranicy
The European Bank of Reconstruction and Development has lowed its predictions for Poland's GDP growth this year and next.
The London-based EBRD forecasts growth for this year at 2.5 percent and 2.2 percent in 2013, a reduction in its predictions in June of 0.4 and 0.2 percent respectively.
On its new quarterly report on central and eastern European countries, the EBDR also cuts its growth forecasts for Ukraine, Serbia, Croatia and Hungary, mainly due to the slowdown in the eurozone.
Slovenia’s economy is expected to contract by 2.5 per cent this year and by 2 per cent in 2013.
“The euro-area crisis will continue to negatively impact growth in the transition region. Countries that are most integrated with the euro area will slow down somewhat more than previously predicted,” says the report. (pg)