Polish economy set to grow 3.7 percent in 2017: central bank

In the report, the bank said inflation was expected to increase, but would not exceed 2.5 percent by the end of 2019.

"After a temporary slowdown in GDP growth last year, GDP growth will accelerate to 3.7 percent in 2017," the bank said.

The report also predicted increased private consumption this year, spurred by rising household incomes.

It added this would be the result of "an improved situation on the labour market” and the introduction of the government's flagship 500+ programme, giving new state benefits to families.

The country’s Central Statistical Office said last month that the Polish economy grew 2.7 percent in the final quarter of last year.

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.

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

(pk)

Source: PAP