OECD reviews economic forecast for Poland

The Organisation for Economic Co-operation and Development (OECD) has reviewed the economic forecast for Poland, downgrading the GDP growth to 3 percent in 2016 and 3.5 percent in 2017. In the previous forecast, the organization said it would stand at 3.4 percent and 3.5 percent, accordingly. "Growing employment and salaries, higher social transfers and low energy prices would propel consumption," said OECD in a report. "Easier conditions for getting loans and increased investments in infrastructure , supported by EU funds will also contribute to investment growth in 2017." The OECD said that it expected the central bank NBP to raise the interest rates toward the end of 2017. It also reviewed the public finance deficit and predicted growth from 2.6 percent this year to 3.2 percent next year.