Leading analysts slash 2009 growth projections
Analysts at BNP Paribas announced yesterday that economic growth in 2009 will not exceed 3.7 percent, while analysts from JP Morgan yesterday lowered their prognosis from 4.8 percent to 4 percent. Despite these announcements the Finance Ministry decided to leave its GDP growth projections unchanged at 4.8 percent.
According to the economists the slow down will be mainly caused by a significant drop in consumption, which is presently one of the main engines powering the domestic economy.
Analysts went on to explain that high interest rates was well as the deteriorating situation on global markets will mean that the public will no longer has access to easy loans. Moreover, investments as well as exports are expected to drop due to the recession in the euro zone.
Source: Rzeczpospolita (A.K.)
According to the economists the slow down will be mainly caused by a significant drop in consumption, which is presently one of the main engines powering the domestic economy.
Analysts went on to explain that high interest rates was well as the deteriorating situation on global markets will mean that the public will no longer has access to easy loans. Moreover, investments as well as exports are expected to drop due to the recession in the euro zone.
Source: Rzeczpospolita (A.K.)
