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Poland’s economy to grow faster than predicted

Poland’s economy to grow faster than predicted

WARSAW: Poland’s finance minister expects economic growth to exceed the predicted 3.6 percent and “low” budget deficit after the statistical office released growth data for the second quarter.

According to the Central Statistical Office’s data published on Wednesday, the economy in the second quarter of 2017 grew by 3.9 percent year on year.

“The results on GDP growth after the first half confirm the growing strength of the Polish economy,” Finance Minister Mateusz Morawiecki said.

“Poland is a leader in economic growth among ten of the largest European Union countries and, as shown by [Wednesday’s] data published by Eurostat, Poland’s economic growth is twice as fast as the average of all European Union countries,” he added.

Morawiecki, also Poland’s deputy prime minister and the development minister, said better-than-expected growth would result from a “good mood” among consumers and businesses, strong Polish exports, and the improved state of public finances thanks to a crack down on tax cheats, which would see the budget deficit at “very low levels”.