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Polish GDP set to grow over 5% this year: expert

The Polish economy is on track to grow over 5 percent this year, an expert has said.

“This year was better in terms of the economy than many people and institutions expected,” said Piotr Arak, director of the Polish Economic Institute.

Arak added that apart from private consumption, public investment was also a growth driver.

The Polish economy grew 5.1 percent in the third quarter of this year, the Central Statistical Office said at the end of last month.

Enterprise and Technology Minister Jadwiga Emilewicz said at the time that macroeconomic data indicates Poland has the fastest-growing economy in the European Union.

Emilewicz added that Poland had stable growth fundamentals, with domestic consumption remaining high and investment figures encouraging.

The Polish economy grew 4.8 percent in 2017, the country’s Central Statistical Office (GUS) said in October, revising upward its previous estimate of 4.6 percent.

The office reported in October that Poland’s unemployment rate fell to a new 28-year low of 5.7 percent in September, from 5.8 percent in August.

Joblessness inched back up to 5.8 percent in November.

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