Polish GDP to grow 4.6 percent in 2019: PKO BP bank

Poland’s largest bank, PKO BP, has forecast that the Polish economy will grow 4.6 percent this year, exceeding many predictions. The bank has also revised upwards its projection for 2020.

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On Thursday, the bank’s chief economist, Piotr Bujak, said that Polish GDP should grow by 4.6 percent in 2019 and 3.7 percent in 2020.

The European Commission has previously forecast that Polish GDP would grow 4.4 percent in 2019. The Polish central bank expects 4.5 percent.

However, Bujak warned that growth in 2020 was dependent on improving economic health across the euro area.

Bujak highlighted the threat of a global trade war, a hard Brexit, and shocks to global commodity prices as factors which could keep Poland’s growth in 2020 below the forecast.

Meanwhile, Bujak predicted that Polish inflation would rise to 3 percent by the end of this year, citing higher food prices as one of the causes.

(sl/jh)

Source: PAP