Poland's GDP likely grows by 4.2 pct in 2019 - Development Ministry

Poland's economy likely expanded by 3.9 percent in the fourth quarter of 2019 and by 4.2 percent in the entire year, according to an estimate published by the Development Ministry on Thursday.

According to the ministry, in the first three quarters of 2019, Poland's GDP grew by ca. 4.4 percent. "This result, together with a forecast of a 3.9-percent increase in the fourth quarter of 2019, let us expect a 4.2 percent growth in the entire year," the ministry wrote.

"The domestic demand has still remained the chief factor of the growth, with consumption playing the main role. A good situation on the labour market and social benefits accompanied by lower PIT (personal income tax - PAP) burden also have positive influence on this factor," the ministry added.

The Development Ministry believes that in the next two years Poland's GDP growth will weaken to around 3.5 percent, chiefly because of an economic slowdown affecting Poland's main trade partners.