OECD ups GDP growth forecast for Poland

In recent reports, the OECD has upgraded its forecast for Poland’s 2018 GDP growth to 4.6% against the earlier reports which indicated a 4.2percent growth.

The Organization for Economic Cooperation and Development has also reviewed its 2019 GDP forecast for Poland which rose from 3.8 percent to 3.7 percent in the projection for the month of March.

In its report, the OECD stated that the GDP growth is expected to remain steady in 2018 before a slight depreciation expected in 2019.

It also indicated that there would be an increase in investment due to the quicker disbursement of EU structural funds, while the private consumption will steadily rise due to the wealthy labour market. Increasing wages will check the pressure to increase inflation.

It was gathered from Poland’s Central Statistical Office (GUS) on Wednesday that the country’s economy appreciated by 5.2 percent in the first quarter of the year. This is an appreciation from the earlier reported 5.1 percent which was a flash estimate issued by the statistical office.