FOR Communication 20/2017: The EC raised GDP forecasts for 14 EU countries more than for Poland
The European Commission has raised the forecast of economic growth in 2017 not only for Poland, but for all EU Member States except three (Luxembourg, Greece and Great Britain).
For 14 of the EU countries, the increase was higher than in Poland; the highest of all was for Estonia where the European Commission raised its GDP forecast three times more than for Poland.
Comments of the Ministry of Finance on the raised forecast of Poland's GDP growth in 2017 by the European Commission must be seen in the wider context of the improvement of the economic situation in Europe. The EC has raised growth forecasts for 25 EU countries, i.e. all member states except three (Luxembourg, Greece and the UK). At the same time, for 14 member states, the GDP growth forecasts have been raised more than for Poland. The strong demand in the EU translates into a strong increase in Polish exports and GDP because our industry is a part of the Western European supply chains. An important factor of growth in Poland is also the economic immigration from Ukraine. The NBP shows that enterprises employ employees from Ukraine primarily to address the lack of hands to work rather than to minimize labor costs.
Polish version aviliable here.You can also download full text (in Polish) from below.
Contant with the author:
Rafał Trzeciakowski, economist
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