|
Poland expects economy to grow 5.5 percent
Warsaw, Poland, Aug. 26 (UPI) -- The Polish government expects gross domestic product to grow by 5.4 or 5.5 percent year-on-year in 2004, the statistical office said Thursday.
The statistical office also said it expected second quarter economic growth of around 6 percent following 6.9 percent year-on-year growth in the first quarter.
The Polish economy has accelerated sharply this year after year-on-year economic growth of 3.8 percent in 2003.
However, the increased tempo of economic growth has raised fears of growing inflationary pressures. In July, year-on-year inflation hit a three-year high of 4.6 percent.
In response, the central bank has raised interest rates by a total of 125 basis points in the last three months. The most recent rise came Wednesday when the central bank unexpectedly raised rates by 50 basis points, bringing key rates to 6.5 percent.
(Source: http://washingtontimes.com/upi-breaking/20040826-040408-1049r.htm) |
|
