The London-based National Institute of Economic and Social Research (NIESR) revised its forecast downwards for Poland’s GDP growth. The country’s economy is now expected to slow from 3.1 percent in 2014 to 2.9 percent next year and then speed up to 3.4 percent in 2016. The previous forecast called for 3.2 percent growth in 2014 and 3.9 percent in 2015.
The Harmonised Index of Consumer Prices (HICP), however, is expected to grow by 0.5 percent this year, according to NIESR, jumping from 0.3 percent to 0.8 percent by the end of the year. The index is expected to hit 1.3 percent next year and 1.6 percent in 2016.
The European Commission also cut its growth forecasts for the eurozone this week. The commission is now predicting that the eurozone will grow by 0.8 percent in 2014 and 1.1 percent in 2015. Earlier this year, the commission predicted the eurozone would see 1.2 percent growth this year and 1.7 percent in 2015.
