Poland needs higher growth

[Bonobo]

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The news from economy is optimistic - the crisis hasn`t been so acute as in other countries, Poland hasn`t fallen below 0% level.



Poland's GDP on the rise
13.11.2015 17:51
The latest gross domestic product figures for Poland reveal a 3.4 percent year-on-year rise concerning the third quarter of 2015. The figures, which were released by the Central Statistical Office (GUS), follow on from a 3.3 percent year-on-year rise over the second quarter of the year. The third quarter figures were slightly over analysts' predictions of 3.3 percent.
Meanwhile, the seasonally adjusted GDP for the third quarter saw a 3.6 percent year-on-year rise.
- See more at: www.thenews.pl/1/12/Artykul/228813,Polands-GDP-on-the-rise#sthash.zGE4b0b6.dpuf



But 3-4% growth per year isn`t enough to catch up with developed European countries, e..g, Germany, with which Poles like to compare.

[Bonobo]

Poland's 2015 GDP grows 3.6pct y/y
January 27, 2016
Poland's GDP grew an estimated 3.6% year-on-year in 2015, better than expectations for 3.5% increase, with domestic demand up 3.4% and investments rising by 6.1%, the Central Statistics Office (GUS) reported Tuesday citing preliminary estimates.

Economists surveyed by PAP Polish news agency expected domestic demand to rise by 3.2% y/y, while investments were expected to grow by 6.4%. PAP consensus survey was conducted on January 11-13.

In 2014 GDP rose by 3.3%, GUS said, maintaining prior data.

Poland's domestic demand was the key driver of the country's economic growth last year, deputy head of GUS Halina Dmochowska said during a press conference on Tuesday of the structure of 3.6% GDP growth in 2015.

"One may asses that domestic demand was the main driver behind economic growth," Dmochowska said. "Consumption demand contributed more than investment demand. Net exports, unlike a year before, had a positive influence on GDP."

Data for 2015 "indicate that with a low price growth level we are observing a continuation of positive tendencies in the economy seem since H2 2013," she also said.

“In 2016 we will likely have a continuation of this moderately fast growth. Some of the components will get an extra boost, like in the case of consumption and the PLN 500 plus child subsidy”, BZ WBK Economist Piotr Bielski said.

“Exports stand a chance of accelerating as we believe the German economy will develop, plus the zloty is relatively weak”, he added.

[Bonobo]

Polish economy grew 2.8% last year
31.01.2017 11:36
The Polish economy grew 2.8 percent last year in real terms, the Central Statistical Office said on Tuesday in a preliminary estimate.
Polish GDP grew 3.9 percent in 2015.
Analysts approached by the PAP new agency had said they expected a GDP growth figure of 2.7 percent for last year.
Domestic demand grew 2.8 percent in real terms last year, compared to 3.4 percent in 2015, according to the Central Statistical Office.
Poland’s 2017 budget is based on a forecast of 3.6 percent GDP growth this year.
Deputy Finance Minister Leszek Skiba said that economic growth last year was weakened by a fall in investment, but added the situation may improve in 2017.
He pointed out that the reading for last year was slightly above market expectations.

[Bonobo]

Polish 2017 GDP growth expected at 4.2%: EC
09.11.2017 11:38
Brussels expects Polish GDP growth of 4.2 percent in 2017, raising its forecast from May by 0.7 percentage points.
According to the European Commission’s latest forecast, 2018 GDP growth will stand at 3.8 percent.
The European Commission said a general government deficit of 1.7 percent of GDP is expected in Poland in 2017 and 2018. In May, the commission predicted 2.9 percent for 2017.
According to the commission, “faster wage growth, moderate employment gains and strong consumer confidence are set to sustain private consumption as the main growth driver”.
Brussels also said that a higher use of European Union funds would see more investment activity in Poland, while low unemployment and few vacancies in the job market would see prices grow, especially in the services sector. (vb)





Poland’s upbeat GDP growth forecasts in part due to wage hikes: deputy FinMin
10.11.2017 14:36
Poland’s upbeat economic growth forecasts are in part due to rising wages, Deputy Finance Minister Leszek Skiba said on Friday.
On Thursday, the European Commission revised upward its forecast for Polish GDP growth this year to 4.2 percent, from an earlier projection of 3.5 percent.
The revisionis due to factors including an improved financial situation of the Polish population, Skiba said, as quoted by Polish Radio’s IAR news agency.
Poland’s economic growth is chiefly fueled by private consumption on the back of encouraging labour market trends and growing wages, according to Skiba.
Investment is also likely to kick in soon as a solid component of economic growth, he added.

(gs)