Polish economy fastest growing in EU
PR dla Zagranicy
John Beauchamp
23.02.2012 11:30
Poland’s economy will be the fastest growing of all European Union countries in 2012, according to a new prognosis by the European Commission.
The EC has forecast that Poland’s GDP will increase by 2.5 percent this year.
For Poland, this is in fact worse than last year, which saw an advance of 4 percent. However, growth has slowed across the continent due to the ongoing turmoil in the eurozone.
According to the EC, the forecast for the GDP rate of the entire European Union is 0 percent growth, while the eurozone block is in the negative at -0.3 percent.
“The eurozone is in recession, but there are signs of stabilisation,” claimed Olli Rehn, European Commissioner for Economic and Financial Affairs.
Following Poland, the fastest growing economies in the EU this year are expected to be Lithuania, at 2.3 percent, and Latvia, at 2.1 percent.
Greece and Portugal are at the bottom of the rankings for 2012, with the economies of both countries set to shrink once again.
According to the statistics, the current recession has now caught up with 9 EU countries, only one of which – Hungary – is outside the Eurozone. (nh/jb)