EBRD raises Poland’s GDP growth forecast

The European Bank for Reconstruction and Development has raised its 2014 GDP growth forecast for Poland from 2.8 percent to 3.0 percent. The higher forecast follows “sharply higher exports and stronger industrial production in the first half of the year,” the EBRD said. The Russian embargo on Polish food “will weigh somewhat on Polish growth, although food exports to Russia only account for 0.2 per cent of GDP.” The bank expects Poland’s GDP growth to accelerate to 3.3 percent in 2015.