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NBP Expects Further Slowdown

Published: January 14, 2013; 17:48 · (Vindobona)

Poland´s National Bank (NBP) forecasts an economic growth rate of 1.5% in 2013.

NBP Expects Further Slowdown / Picture: © Flickr

According to NBP, the Polish economic will record an even lower growth this year than in 2012. The inflation is expected to reach 2.3%.

In the last months, NBP revised its growth forecasts several times. In order to boost economic growth again, NBP has cut the interest rate three times in a row. At the moment, the base rate stands at 4.0%.

Poland does not remain unaffected by the current recession in the Eurozone. The appreciation of the Polish zloty caused a decrease in exports and an increase in unemployment.

NBP´s governor Marek Belka reaffirmed that growth will return after the first half of 2013.