Poland’s GDP growth forecast to be 3% in 2016, 3.2% in 2017 – Fitch Ratings

Poland’s economic growth will slow to 3 percent this year from 3.5 percent last year, but will accelerate to 3.2 percent in 2017 and 3.3 percent in 2018, according to a forecast by Fitch Ratings. The agency’s previous forecast for Poland for 2016-2017 was 3.2 percent and 3.5 percent respectively.

The main reason for the downgraded forecast are lower inflows of EU funds and the impact of this on public investment. “A gradual rebound in the inflow of EU funds should support stronger investment. The anticipated growth in the budget deficit in 2017, along with a continuing strong labor market, should also have a supportive effect. The main risk for these expectations is the external environment, especially as a result of Britain’s decision to leave the EU,” Fitch’s “Global Economic Outlook” report states.

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