IBnGR: GDP growth of 3% expected this year, 3.2% in 2017

The growth rate of Poland’s GDP in 2016 will amount to 3 percent (versus 3.9 percent last year), while next year it will accelerate to 3.2 percent, the Gdansk Institute for Market Economics (IbnGR) predicted.

“In 2017 we expect slightly faster growth – real GDP will increase by 3.2 percent. The macroeconomic situation in 2017 will therefore be very similar to this year. The best situation should prevail in mid-year, when the GDP growth rate will amount to 3.3 percent in Q2 and Q3,” the Institute stated in its report.

According to IBnGR’s forecast, the value added in industry will grow by 4 percent in 2016, while the construction sector will see a decline in value added of 11 percent. In the market services sector, which accounts for the largest share in GDP, value added growth will reach 4.2 percent in 2016. For 2017 the institute predicts 4.3 percent value added growth in industry, 7.5 percent in construction, and 3.3 percent in market services.

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