World Economy

Poland Posts Record Growth

Poland Posts Record GrowthPoland Posts Record Growth

There was some good news for Poland’s beleaguered government on January 30 after Statistics Poland announced that the country’s economy had grown by 4.6% in 2017. This beats all forecasts and represents Poland’s highest level of growth since 2011, Emerging Europe reported. Growth in 2016 was 2.9%. Gross value added in the national economy in 2017 was 6.2% higher than a year earlier. This followed 3.6% growth in 2016. On the expenditure side, final consumption grew 4.2% over the year and gross capital formation expanded by 6.4%. In more good news for emerging European economies, neighboring Lithuania also reported excellent growth figures on January 30. The Lithuanian economy expanded by 3.9% year on year in the fourth quarter, up from 3.1% in the third quarter. Witold Orlowski, chief economic adviser for PricewaterhouseCoopers in Poland, wrote in a recent opinion editorial for Emerging Europe that while there are reasons to cheer, there are at the same time worrying clouds being cast over Poland’s economic results. “The main reason for concern is the structure of the GDP growth,” he wrote.

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