Dep Finance Minister revises GDP to take account of exports and investment

The Finance Ministry will revise the prognosis of the GDP growth in 2004, announced the deputy finance minister Andrzej Janaszek. "We estimate that the GDP growth in Q3 will amount to 5.7-5.8%. Therefore we plan to increase the predicted GDP growth at the end of the year by 0.1 point to 5.8% of the GDP," said Janaszek. He stated that exports should remain a growth-stimulating factor but the role of investment demand should also grow. Janaszek revealed that the ministry expects July's inflation to be at the level of 4.7-4.8% and should not exceed that figure in August when the deflation of food prices is expected. In the ministry's calculations it was assumed that the Monetary Policy Council (RPP) will continue to lead a restrictive monetary policy. "We take into account the fact that the RPP may further increase the interest rates," stated Janaszek. (Rzeczpospolita, August 14-15, p.B2) E.B.