EBRD cuts Poland's 2013 growth forecast
PR dla Zagranicy
Peter Gentle
21.01.2013 16:54
The European Bank for Reconstruction and Development (EBRD) has cut its growth forecast for Poland's economy in 2013 from 2.2 to 1.5 percent of GDP.
photo - flickr
The cut of 0.7 percent since its last forecast in October is due to “weaker exports and lower expenditure on public investments”.
"The effects of the eurozone slowdown are belatedly catching up with Poland," the EBRD said.
The EBRD also cut its growth forecasts for eight countries in the central and eastern European region from 1.7 to 1.3 percent.
The EBRD's report says that that "space for additional stimulation of the economy is limited [in Poland]". In November the Polish National Bank began a long-awaited phase of monetary easing, although latest information suggests that this may end at the end of the first quarter.”
The bank also lowered expectations for data on Poland's economic growth in 2012, from 2.5 to 2.0 percent. (pg)
source: PAP