GDP slowing to 4% in Q3; BRE analysts skeptical about 5% growth in 2001

The Economy Ministry said Thursday GDP growth is seen to be slowing to 4% in the third quarter and to 3% in the final three months of this year from more than 5% in the first half of 2000. Meanwhile, analysts from BRE Bank expressed doubt about the feasibility of next year's budget draft, saying the possibility of tightening fiscal policy was not likely. They added it could hardly be expected that a lowering of NBP interest rates would take place anytime soon. In light of the proposed legislation, they also said that 2001 GDP growth pegged at 5% is ambitious. "In 2001 GDP growth will decrease to approximately 4%," said the head of BRE Bank economist, Janusz Jankowiak. (Reuters, Prawo I Gospodarka, p.2)