The Central Statistical Office (GUS) has released fourth quarter GDP figures for 2008 showing growth of 2.9 percent versus the predicted 3.0 percent.
In the third quarter of 2008, Poland’s Gross Domestic Product rose 4.8 percent versus 6.0 percent for the previous year.
Janusz Jankowiak, head economist at the Polish Business Council, claims that the most recent GDP figures, while low, do not threaten recession. Poland’s figures still show positive growth, meaning that the global recession will likely not touch the country until midway through 2009.
Exports from the third to fourth quarter fell from 7.1 percent to 2.1 percent to wrap up the year.
The Polish government predicts that Poland’s GDP will grow 2.5 percent for 2009. World Bank analysts predict growth at two percent while independent financial analysts predict negative growth for the country’s GDP. (mmj)