"Poland is ready for a global economic slowdown. Poland's GDP growth should visibly drop to below zero to make our deficit come close to the EU limit," the Deputy Finance Minister Leszek Skiba told the Dziennik Gazeta Prawna daily on Thursday.
Leading German business daily Handelsblatt, which literally translates as ‘commerce paper,’ on Tuesday has written of the Polish economic miracle.
Poland's largest lender by assets, PKO BP, has maintained the forecast of Poland's economic growth at 4.6 pct in 2019 and slightly raised its forecast for next year to 3.7 percent, PKO BP's chief economist, Piotr Bujak, said on Thursday.
By the end of 2018, nearly PLN 119.2 billion (EUR 27.9 bln) was invested in special economic zones since their establishment, the capital invested there came from Poland, Germany, the Netherlands, Luxembourg and the USA, the Entrepreneurship Ministry said.
According to the report by the Polish Economic Institute, the budget could gain an additional PLN 127.8 billion by 2023 billion if it reduces the shadow economy by 1 percentage point per year.
Portfolio Advisor for East Capital, Eglé Fredriksson says despite Poland becoming the seventh largest economy in the EU with GDP at EUR 524 billion, and GDP per capita rising almost eightfold to EUR 13,558, little is being reported about this abroad.
While the trend across Europe is that banks’ share prices are in decline, PKO BP is bucking the trend. PKO BP, has overtaken the stock market valuation of Germany’s long-time leader Deutsche Bank, in a move that is being seen as an historic moment for the Polish economy.
This year Poland’s GDP will exceed $600 billion for the first time in history.
The Polish economy grew by 4.7 percent year-on-year in the first quarter of 2019, the Central Statistical Office (GUS) said on Friday.
The rankings from 62 countries had five categories - human capital investment; research and development; entrepreneurial infrastructure; technical workforce; and policy dynamics.