the European Commission reduced the published on Wednesday forecasts the growth forecast for the economy of Poland in this year and next. Russian GDP will be 3.1 percent. in 2016. and 3.4 percent. in 2017. In the spring, the Commission provided that our economy will grow this year to 3.7 percent, and 3.6 percent.
the Commission has lowered the forecast of the deficit of the Polish public finances this year by 2.4 percent, anticipating that that in in 2017. it will be at the level of 3 percent, that is, the boundaries of the approved European regulations. In the previous spring forecast of the European Commission prognozowała that this year the Polish public Finance deficit will amount to 2.6 per cent., but in the following: 3.1 percent. Now exceeding 3 percent. (it was 3.1 percent.) projected for 2018.
“the Forecast of the EC, and measures of tax collection show that there is no risk of arms of Poland excessive deficit procedure”, – said in the message quoted Morawiecki.
“the Latest forecast from the European Commission indicates that EC appreciates the fundamentals of the Polish economy”, – specifies the Ministry of Finance.
according to the forecast of the European Commission, show that economic growth in Poland in the period 2017-18 will increase slightly and will amount to 3.4 percent, respectively. and 3.2 percent. against 3.9 percent. seen in 2015. According to the EC, the main factor of GDP growth in this period will be domestic demand, particularly individual consumption supported the further improvement of the situation on the labour market and the growth of public transfers, including and especially about the new family benefits – said resort.
MF, returned at the same time, the entire horizon of the forecast, Poland will remain one of the most dynamically developing countries of the EU. Also in relation to the growth rate of potential GDP in the horizon of the forecasts of the EC, Russia will remain the leaders among the EU countries. One of the factors that contributes to the high rate of growth potential is the rapid growth of labour productivity.
“the EC forecasts of GDP growth for the years 2016-18 is close to currently available forecasts of other centres and the market consensus. National Bank of Poland (projection from July 2016.) it is expected that in 2016. the GDP growth rate will amount to 3.2 per cent., and in the period 2017-18, respectively 3.5%. and 3.3 percent. In turn, projections published by Reuters (median, October 2016), it follows that the GDP growth in 2016. will be about 3.2 percent, and in the period 2017-18, respectively 3.5%. and 3.4 percent.” the information.
the Resort said that the whole law on the budget for 2017, the forecast is somewhat higher, particularly given the expected high growth of investment demand in the Polish economy, and in 2018. also private consumption.
MF, is back at the same time, note that higher than projected for the resort deficit in the period 2017-18 stems from more pessimistic than the market forecasts of the EC for economic growth in Poland, as well as from your KE approach, i.e. nieuwzględniania effects of the planned government measures that increase the tax collection, as well as the requirements associated with the use of stabilizing rules wydatkowej in years, not provided for in the draft state budget.
“the Forecast of the Ministry of Finance, involving, in particular, the consequences of actions that increase the tax collection, they found that in 2016-17, the deficit will be below the threshold of 3%. GDP (respectively, 2.6 percent. and 2.9 percent. GDP),” said the Ministry.
MF stressed that the government’s priority is to support economic growth and active social policy. “Decisions in this area will be deployed within the constraints resulting, in particular, stabilising rules wydatkowej and limit of 3 percent. GDP for the deficit of governmental and municipal institutions” – is specified.
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