Poland is the leader of growth in Europe, Minister of Entrepreneurship and Technology Jadwiga Emilewicz said at a Thursday press conference pointing out that Polish GDP will grow by 5.2 percent this year.
Morgan Stanley's analysts have upgraded Poland's GDP growth forecast for 2018 to 5.1 percent from its earlier 4.9 percent estimate.
At 5.7 percent, Poland's GDP growth in the third quarter of 2018 was highest in the EU, Eurostat reported on Wednesday. Eurostat wrote that Poland ranked among the EU's fastest-developing economies.
The strong growth comes despite economic tremors affecting some of the world’s major economies.
The European Bank of Reconstruction and Development raises its GDP estimates but adds labour market faces major changes.
The European Bank for Reconstruction and Development raised Poland's GDP growth forecast for 2018 to 4.7 pct year on year, and to 3.6 pct year on year for 2019, up by 0.7 and 0.3 pct respectively, compared to May's forecasts, the bank said in a recent report.
Poland's GDP growth is expected to reach 4.7 percent in 2018, 3.9 percent in 2019 and 3.6 percent in 2020, the World Bank wrote in a Wednesday-published report raising its April respective estimates of 4.2, 3.7 and 3.5 percent.
The S&P Global Ratings agency has lowered its estimate of Poland's 2018 general government deficit to 0.9 percent of the country's GDP from 2.0 percent, the agency's report from Thursday shows.
Global ratings agency Fitch has raised Poland's GDP growth forecast to 4.8 percent from 4.4 percent in 2018 and to 3.6 percent from 3.4 percent in 2019, the agency's Friday report shows. Fitch expects that the Polish economy will start to cool down soon.
Economists say private consumption and government spending are key drivers for GDP growth in the second quarter