The European Commission has upgraded its forecast for Poland's 2018 GDP growth to 4.2 percent from a previous projection of 3.8 percent.

The Commission, the executive arm of the European Union, also said it expected Poland’s economy to grow 3.6 percent in 2019.

“Real GDP growth is forecast to remain strong at 4.2 percent in 2018 and 3.6 percent in 2019,” the Commission said in its newly released Winter 2018 Economic Forecast.

It added: “The growth composition is expected to remain similar to 2017, with domestic demand providing the strongest contribution. Private consumption is projected to be supported by faster wage growth and record-high consumer confidence. Investment is expected to continue a gradual recovery, driven by a strong rebound of public investment ...”

According to the Commission’s estimates, Poland’s economy grew 4.6 percent last year, the fifth fastest rate in the European Union, after those of Ireland, Romania, Malta and Slovenia.

The World Bank in January revised upward Poland's 2018 GDP growth forecast to 4 percent from a previous projection of 3.6 percent.

(gs/pk)

Source: PAP