Poland overtakes India and Mexico in BofA ranking

Poland went up two places and took 5th spot in the ranking of emerging economies compiled by Bank of America Merrill Lynch. The top three places were taken by China, South Korea and Indonesia. Russia came in fourth whilst India and Mexico rank behind Poland. "Poland's promotion was driven by healthy economic development; BofA Merrill Lynch is maintaining its GDP forecast of 3.5 percent this year," a statement read. The list comprises 56 countries, which are ranked based on 4,000 indicators, such as the GDP growth rate, the level of investments and inflation, monetary policy, the balance of payments and international trade, budget deficit and public debt or the soundness of the banking sector, among others. BAML highlighted that Polish economic development looks particularly well compared with rest of the world as recently the bank has lowered its global economic growth forecast to 3.2 percent from 3.6 percent. The report also outlined that Poland is in a group of three countries (with Croatia and Bulgaria) with the lowest inflation rate in the world.