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Polish economy to grow 4% in 2019: finance ministry

Poland’s finance ministry said on Tuesday it expected the economy to expand 4 percent this year, faster than anticipated in the country’s budget for 2019.

The ministry forecast, however, that Polish GDP growth would slow to 3.7 percent in 2020, 3.4 percent in 2021 and 3.3 percent in 2022.

The finance ministry said that private consumption, buoyed by a strong labour market, would remain the key driver of growth.

Under Poland’s budget for 2019, approved by parliament earlier this year, GDP was expected to grow 3.8 percent.

In its latest World Economic Outlook report, published earlier this month, the International Monetary Fund (IMF) forecast the Polish economy would grow 3.8 percent this year.

According to the IMF, Polish GDP growth in 2019 was set to be the highest in the region.

Meanwhile, the World Bank has said it expects Polish economic growth to slow to 4 percent this year from over 5 percent in 2018.

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