Development Ministry downgrades export and import forecasts

Analysts from the Development Ministry have reviewed the export forecast, lowering it from 7 percent to 3 percent in 2016. Additionally, they have downgraded the import forecast from 5 percent to 2 percent. The ministry expects that trade balance will be positive and will stand at around €4 billion. The report by the Development Ministry identifies the causes of worse results as the economic slowdown in China, slower economic growth in developed countries, particularly in the EU, the slowdown or recession in oil exporting countries and Poland's economic slowdown to 3.5 percent.