Morawiecki: don’t see risk to GDP growth in 2017. above 3 percent. – Onet.pl

Matthew Morawiecki, referring to the data on GDP growth in the third quarter of 2016., he said: “We are dealing with a cyclical slowdown throughout European Union and also in most of the economies in the world.” He noted that “our economic dependence from the Union is significant.” “From data released by Eurostat show that GDP growth at the level lower than in Poland was recorded also in several other EU countries, and there is no more data from all countries. Also worth bearing in mind that, despite the slowdown in GDP growth in Poland, the rate remains among the highest in the EU,” he stressed.

Deputy Prime Minister added that even stronger than in Poland economic growth slowed in the Czech Republic, Slovakia, Hungary, Austria. “The strongest decline was our largest trading partner is Germany,” he said.

according to Him, this situation is “effect of many factors specific to individual countries.” As Vice Premier noted, “the common denominator is uncertainty.” “And the fact that the economic crisis is not over and monetary policy stops working. Also Brexit, which has already played a role, reducing growth prospects in the Euro Zone and the European Union. Feel it strongly, all the countries of Europe, especially Central. In all these countries growth was lower than expected. So we see that the decline in growth has the character almost everywhere and it also affects the economy of Poland,” he said.

To the question, does this mean that you will need to revise the growth forecast for next year, said: “On the basis of monthly data, manufacturing, construction, government tenders, we can conclude that the slowdown is caused mainly deep but temporary reduction in public investment”. For Morawieckiego “this is due to several reasons, the most important are without doubt the gap between long-term budgets of the EU, very weak results of funds in the municipalities, and the lack of preparation of investment projects before us the ruling coalition PO-PSL”. “At the moment to catch up on these debts of predecessors, and I think that improving the investment process will happen early next year,” he said.

“During the rule of PO-PSL – GDP recorded a level lower than 2.5 percent. yet in 11 quarters… And, for example, in the first quarter of 2013, economic growth was zero. In fact, we now have a small decline in GDP, but it is temporary. Impetus to investment caused by the actions of our government (for example, investment, automotive) will begin to disclose in subsequent quarters, which will contribute to performance improvement. Momentum is gaining in the absorption of EU funds, we believe that, as a consequence, public investment and the construction sector will return in 2017. on the path of growth. Thus, despite temporarily weak data not seen the risks to GDP growth in 2017, higher than 3%., what will undoubtedly be one of the best results in Europe,” he said.