Poland's GDP growth to slow down to 3-3.5 pct in 2020 - official

Borys expressed his conviction that "both the economy and the budget will be balanced." Wojciech Olkuśnik/PAP

Polish Development Fund (PFR) President Pawel Borys wrote in the daily Puls Biznesu on Friday that "Poland's economic growth will likely slow down to 3-3.5 percent in 2020."

"The year 2020 will not see a breakthrough (...). Poland's economy will be marked by a cyclical slowdown of GDP growth to ca. 3-3.5 percent. This is still a good result against the euro zone," Borys added.

According to the PFR president, in 2020 wages will grow by an average of 8 percent. "This increase will compensate for an inflation increase reaching 3-3.5 percent," he said, adding that "interest rates are rather unlikely to go up since the price growth will slow down."

Borys also expressed his conviction that "both the economy and the budget will be balanced."