Poland’s short-term economic outlook remains favourable, with growth strong and the financial sector stable, the European Commission has said in a report.
“Economic growth is strong, the financial sector is stable and there are no short-term risks to fiscal sustainability,” the commission said in its Country Report Poland 2018, published on Wednesday.
“The economy has been growing robustly. Domestic demand, especially private consumption, has been the dominant driver of growth over the last few years. This was particularly evident in 2016 and 2017.”
The commission said, however, that investment remained sluggish until mid-2017.But it added: “Strong private consumption has been supported by a buoyant labour market, increased fiscal transfers and record-high levels of consumer confidence.”After increasing by 4.6% in 2017, Poland’s real GDP is forecast to grow by 4.2% in 2018 and 3.6% in 2019, among the highest rates in the EU, the report said.
“An increasing utilisation of EU funds should result in higher investment, in particular public investment,” the commission added.
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