IMF: Poland's GDP growth up to 4% in 2017

The International Monetary Fund (IMF) has finished an official staff mission to Poland and published a statement with its conclusions and forecasts. According to the statement, Poland continued its convergence with the EU, growing well above most of its peers. However, increased external risks and recent policy initiatives have weakened investor sentiment and, together with long-term structural challenges, could slow down growth and convergence. Sound institutions, growth-friendly policies, and structural reforms are critical to achieving sustainable and inclusive growth. "Poland's GDP growth is projected to remain strong in 2016 and accelerate to close to 4 percent in 2017, on the back of strong private consumption, opening a positive output gap. This should gradually help nudge inflation toward the lower bound of the target band (1.5 to 3.5 percent) by end-2017," the report found. At the beginning of May, the IMF sustained its estimate that Poland's GDP will grow by 3.6 percent and remain at this level in 2016 and 2017, whereas it will stand at 3.5 percent in 2021.