Rapid growth in Polish exports expected
PR dla Zagranicy
Paweł Kononczuk
27.07.2016 12:45
Poland’s Deputy Development Minister Jerzy Kwieciński has announced that Polish exports could grow by up to 7 percent over the whole of 2016, but cautioned against over-optimism following a Brexit.
Photo: pexels.com
Kwieciński told journalists: “Our exports are rising. We expect them to rise this year by around 6-7 percent. I think that this is achievable.”
He noted that the current EUR/PLN exchange rate is favourable to Polish exports. He added that the recent failed coup in Turkey and its aftermath may also benefit Poland if capital leaves Turkey and is invested in more stable countries.
However, Kwieciński said that Brexit may hurt the Polish economy, pointing out that the UK is Poland’s second most important trade partner in the EU.
“Our forecasts concerning GDP growth were a bit too optimistic. I hoped that it would exceed 4 percent but there have been unexpected events. We currently still don’t know to what extent Brexit will impact [our economy],” Kwieciński said .
He added that in a worst-case scenario, Brexit could cost Poland 0.5 to 1 percent of GDP. Kwieciński expressed hope that the impact this year will be minimal, as the UK is not expected to start the process of leaving the EU until next year. (sl/pk)
Source: PAP