New Country Reports market report from Business Monitor International: "Poland Business Forecast Report Q1 2013"
Boston, MA -- (SBWIRE) -- 02/26/2013 -- Core Views
Although we have revised down our expectations for real GDP growth in 2012 from 2.5% to 2.3%, we are above consensus with regards to our forecast for Polish growth in 2013, expecting an expansion of 2.6%. Net exports and investment are likely to be key drivers of this out-turn.
Poland's external position remains relatively strong. We forecast the current account deficit to narrow from 4.3% of GDP in 2011 to 3.0% in 2012 and to 2.9% in 2013 as the economic slowdown reduces import demand. However, a large stock of foreign-owned government paper and ongoing private sector deleveraging represent the two major risks to our sanguine outlook.
View Full Report Details and Table of Contents
We continue to expect the Civic Platform-led government to serve out its term. The government won a recent parliamentary vote of confidence, suggesting its parliamentary majority is safe for the time being. We also believe that the opposition will struggle to broaden its appeal despite the current government becoming increasingly unpopular, limiting the opposition's ability to challenge the ruling coalition.
Major Forecast Changes
We expect the National Bank of Poland began easing monetary policy before the end of 2012, forecasting rates to be cut to 4.00% by end-2013.
We forecast Polish fiscal deficits of 3.5% and 3.0% of GDP in 2012 and 2013 respectively, in line with recent official revisions. Although we expect the government to loosen the fiscal reins more than it currently envisages in 2013, our above-consensus outlook for the economy is likely to offset the effect on the budget deficit.
Key Risks To Outlook
Although not our core scenario, we highlight the risk of Greece leaving the euro, potentially leading to a disorderly breakup of the common currency bloc. This would likely push Poland into recession.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Country Reports research reports at Fast Market Research
You may also be interested in these related reports:
- Singapore Business Forecast Report Q1 2013
- Sri Lanka Business Forecast Report Q1 2013
- Russia Business Forecast Report Q1 2013
- Slovenia Business Forecast Report Q1 2013
- Slovakia Business Forecast Report Q1 2013
- Vietnam Business Forecast Report Q1 2013
- Australia Business Forecast Report Q1 2013
- Iraq Business Forecast Report Q1 2013
- Latvia Business Forecast Report Q1 2013
- Cyprus Business Forecast Report Q1 2013
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)