The World Bank has upgraded Poland's 2018 GDP growth forecast to 4 percent from a previous projection of 3.6 percent.

The upgrade reflects stronger-than-expected growth in the eurozone, which supports Poland’s exports, the bank said in a new report. It also noted that unemployment in Poland was at a record low and that rising wages were fuelling consumption.

The World Bank said it expected Poland's economy to grow 3.5 percent in 2019, followed by 3.1 percent growth in 2020.

In 2017, Poland’s GDP grew 4.5 percent, according to the bank’s estimates.

In October, the World Bank projected that Polish economic growth in 2017 would accelerate to 4 percent from 2.7 percent in 2016.

The bank also said at the time that the Polish economy was likely to slow down in 2018 “due to lower economic activity in Europe” and labour shortages on the domestic market.

In May, the World Bank forecast that the Polish economy would grow 3.3 percent in 2017 and 3.2 percent in 2018.

(gs/pk)

Source: PAP