The European Commission cut its economic growth view for Poland on Wednesday, blaming a lull in European Union subsidies into both countries.
The EU’s executive arm cut its projection for Polish gross domestic product growth to 3.1% in 2016 and 3.4% in 2017. In spring, it forecast the EU’s largest emerging economy would grow by 3.7% this year and 3.6% next year.
Private consumption is seen remaining the main driver of growth, amid accelerating wage rises and higher welfare spending. Investment activity has been subdued but is expected to gradually pick up after 2016 as Poland uses more EU funds available for the bloc’s poorer members.
Source: NASDAQ.com
