Poland Says Growth Sustainable

Poland’s economy is on a path of sustainable growth and increasingly being driven by investment, the country’s conservative prime minister has said. In an interview with the PAP news agency, Mateusz Morawiecki said that the Polish economy was doing “increasingly well,” and that, “importantly and optimistically”, it was growing “in a sustainable manner.” He added that Polish GDP growth was “finally beginning to be” based on three pillars: investment, exports and consumption. Poland’s Central Statistical Office said in a flash estimate last week that the economy grew 5.1% in the second quarter of this year. The statistics office reported this week that capital expenditure by Polish companies in the first half of the year, at PLN 54.4 billion ($14.7 billion), was 10.3% higher than in the same period last year. Companies invested more in buildings, machinery, equipment and means of transportation than they did last year, according to the report. The year-on-year rise in business investment was the highest since Poland’s ruling conservative Law and Justice party swept to power in late 2015, Morawiecki said.