Source: Xinhua| 2017-11-10 01:29:18|Editor: yan

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WARSAW, Nov. 9 (Xinhua) -- Poland is expected to enjoy 4.2 percent economic growth in 2017 and 3.8 percent in 2018, the European Commission wrote in its autumn set of forecasts, Polish Press Agency reported Thursday.

These estimates constitute an upgrade to an outlook issued in spring. The EC had previously seen Poland's 2017 GDP growth at 3.5 percent, with 2018 GDP growth at 3.2 percent.

According to the Commission, the Polish economy is mainly fuelled by faster wage growth and private consumption. Analysts from Brussels expect a gradual improvement in investments, mainly due to increased use of EU funds.

The upgraded forecast envisages Poland's public debt to amount to 53.2 percent of GDP in 2017 and fall to 53 percent in 2018.

The EC also cut Poland's general government deficit forecast to 1.7 percent of GDP from 2.9 percent for both years. The Commission justified this result through higher tax revenues and social contributions gains from a strong economy, the retention of higher VAT rates and a variety of measures to increase tax compliance.

The Commission predicts a further decline in unemployment. According to the EU methodology, it is expected to reach 5 percent this year and fall to 4.2 percent in 2018. The EU average is forecast at 7.8 percent and 7.3 percent, respectively.