Polish economy to grow 2.75 pct in 2010, IMF says
Market watch top headlines
Australian reports
- Aust markets: Aussie markets receive positive leads
- Aust dollar report: $A opens higher on firm US data
- Aust credit close: Bonds weaker after rebound
World reports
- World commodities: Oil prices climb higher
- World markets: Stocks rise on positive economic data
WARSAW, March 15 AFP
March 16 2010, 07:56AM
Poland, the only member of the 27-nation European Union to have enjoyed growth in 2009, should see its economy expand by 2.75 per cent this year and 3.25 per cent in 2011, the IMF said on Monday.
"The global environment is improving; the balance-sheet adjustment in the Polish banking system appears to have run its course, with renewed risk appetite suggesting that banks are ready to cautiously expand credit; and, not least, EU funds to Poland are expected to almost triple in the next few years," the global lender said in a statement.
"Against this background, we expect a continued recovery in domestic demand, in particular public investment. As a result, growth is set to gradually increase to around 2.75 per cent in 2010 and 3.25 per cent in 2011," it added.
The International Monetary Fund's forecast came after a regular assessment of the Polish economy.
Poland, a former communist nation of 38.5 million people, was the largest entrant in the EU's big-bang expansion of 2004.
It has long boasted a robust economy and despite a slowdown amid the global economic crisis, it recorded 1.7 per cent growth in 2009 compared with the previous year, according to an official estimate released in January.
