Deputy Finance Minister: GDP slowdown can be explained

The slowdown of Poland's GDP in 2016 may be short-term and a one-off, said Deputy Minister of Finance Leszek Skiba. He was speaking in response to a question in the Polish Parliament on Thursday. Skiba also indicated that he expected GDP to accelerate to 3.6 percent in 2017, and that less-than-expected growth in 2016 could be attributed to investment that had been tied to funds coming from the European Union. "We assume that the slowdown in spending of EU funds is temporary, and the actions taken...will help to accelerate the process of investment subsidized from EU funds. The reduction in the rate of investment growth, and consequently GDP should therefore be temporary, " Skiba stated. Skiba added that the current sitting of the Polish Parliament does not indicate plans to introduce an amendment to the draft budget bill for 2017.