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Home > Polish Property and Real Estate Articles > Poland economic driving force?
Poland economic driving force?Article added on: 2011-01-16 |
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Poland and Germany are the economic driving force of Europe, writes the German newspaper Die Welt. Poland was the only EU state not affected by recession last year and its economy is still doing well, notes the German daily. In the third quarter of 2010 Poland reported a 4.2 percent economic growth in comparison with the same period in 2009. “Further growth of the Polish economy is expected,” Christoph Witte, head of German Kreditversicheres Delcredere, told Die Welt. Besides, in 2010 Warsaw Stock Exchange was among the most buoyant in Europe. Chief economist at Pekao Bank Marcin Mrowiec predicts that in 2011 Poland will record 4.4-percent growth, boosted by the Euro 2012 football championships and the opening of German labour market for Poles. “Polish employees will become more mobile which may result in higher salaries in Poland,” says Mrowiec. In Die Welt’s opinion, 3.1-percent inflation, higher than assumed by the National Bank of Poland, and a 7.9-percent budget deficit are the only obstacles but Poland will manage to attract investors anyway because of strong zloty. “The trend of zloty gaining strength against euro has been observed for a year now and it will continue,” Raffaella Tenconi from Bank of America Merrill Lynch told the German newspaper. |
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