ZCZC
BCN-43
POLAND-GDP-WORLDBANK
Poland’s GDP to grow by 4.7 pct in 2018: World Bank report
WARSAW, Oct. 18, 2018 (BSS/Xinhua) – Poland’s GDP growth is expected to
reach 4.7 percent in 2018, 3.9 percent in 2019 and 3.6 percent in 2020, the
World Bank wrote in a Wednesday-published report, raising its April
respective estimates of 4.2, 3.7 and 3.5 percent.
Poland’s budget deficit may reach 1.6 percent in 2018 and get closer to 2
percent by 2020, mainly due to growing welfare expenditures and the lowering
of the retirement age.
The growth will continue to be supported by private consumption and
investment as well as government spending, according to the World Bank.
In August this year, Polish Investment and Development Minister Jerzy
Kwiecinski said that in the third quarter of 2018, solid GDP growth should be
expected in the region of 4.5-5 percent.
In his assessment, the positive trend will be maintained in the second
half of the year. Stablisation of the growth rate at 4.5 or even 5 percent of
GDP would be, the minister believed, desirable for the economy.
“On the one hand, it shows that the growth is sustainable, driven by three
engines — consumption, investment and export — while on the other, it
guards against the situation overheating and allows the economy to be
maintained on the path of sustainable development,” Kwiecinski said.
BSS/XINHUA/HR/1442