OECD raises Poland's GDP forecast

Poland's economy will grow by 3.5 percent in 2015 and by 3.7 percent in 2016, according to the Organisation for Economic Co-operation and Development. The institution had earlier said the GDP growth rate will stand at 3 percent in 2015 and 3.5 percent in 2016. "Output growth supported by strengthening private consumption, is projected to continue to rise, reaching 3.7 percent in 2016. The labor market further progress and exports will benefit from firmer international trade and faster growth in the euro area. Energy and food prices have started to turn around following sharp falls, and after several months of deflation, consumer prices should gradually pick up again," a report read.