EBRD raises Poland's forecasted GDP growth

The European Bank for Reconstruction and Development (EBRD) has increased Poland's projected GDP growth from 3 to 5 percent this year and to 4.8 percent in 2022.

According to EBRD, Poland owes its higher GDP growth to rising exports and a diversified economy. The bank also noted that Central and Eastern Europe was still attracting foreign direct investment (FDI) and the decrease of FDI was lower than in the western countries.

The bank warned, however, that a "hot" labour market, a declining population and expected mutations of the coronavirus presented major economic risks for Poland.