WARSAW: The OECD has cut Poland’s growth forecast for this year to 3 percent, while maintaining its projection of 3.5 percent in 2017. In March, the Organisation for Economic Co-operation and Development had predicted the Polish economy would grow from 3.4 percent this year to 3.5 percent in 2017.
“Real GDP growth is projected to increase from around 3 percent in 2016 to 3.5 percent in 2017. Rising employment and wages, higher social transfers and low energy prices will support faster consumption growth,” the OECD said in its new report.
It added: “Easy credit conditions, and a pick-up in infrastructure investment supported by EU funds in 2017 will also underpin stronger investment. Consumer price inflation is projected to gradually rise, as energy prices stabilise and the labour market tightens.” Poland’s Central Statistical Office (GUS) said on Tuesday that the economy grew 3 percent in the first quarter, slower than in the previous three months. Between October and December, Polish GDP rose 4.3 percent year on year.
