Polish Economy Trumps UK

Trumping the US too

Trumping the US too

The economies of Poland and Great Britain look so good that even experts are surprised, although according to The Economist the growth of the Polish economy is more stable and balanced. As evidence of this, journalists quote the economic data of the first six months of 2013. “In comparison with most economies that are slowly coming out of recession, two non-Eurozone EU states, the UK and Poland, have seen a sharp economic surge”. Forecasters predicted that the UK economy will grow by 1.1 percent this year, but it is already clear that these figures will be achieved by the end of June. Growth is now expected to be around 2 percent. “The growth of the Polish economy has also surprised experts”. In contrast to the predictions of Poland’s Central Statistical Office (GUS), which thought Polish economic growth would be zero, it was already clear in June that by the end of the year it will grow by 0.9 percent. Moreover, according to OECD forecasts, Polish GDP will grow by another 2.2 percent. Eperts quoted in The Economist note that the UK recovery is less stable than the path taken by Poland. They point out that Poland’s rapid growth is based on industrial production, which grew by 6.2 percent compared to September last year, as well as the large number of bank loans taken out by companies investing in Poland. “Polish banks are more likely to give loans for real estate investment in contrast to banks in the UK,” according to The Economist. As a result, the Polish economy, which has stronger foundations, should continue to grow in the coming years. However, the behaviour of consumers can never truly be predicted.

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