OECD raises GDP forecasts for Poland

The Organization for Economic Cooperation and Development (OECD) has raised its 2017 GDP forecast for Poland to 3.6 percent from 3.2 percent previously forecast in November last year. For next year, the organization maintained its 3.1 percent growth projection. “We forecast GDP growth to exceed 3 percent in 2017 and 2018, fueled by strong individual consumption, supported by rising employment and social transfers. The EU co-financed public investment should regain momentum and good business sentiment and low interest rates should support private investment,” the report said. “A moderate rebound in external demand should support export growth and keep the current account deficit unchanged. Unemployment should decrease, pushing up inflation. In early 2018, the [Poland’s Central Bank] NBP should start raising rates,” the report added.