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Kalisz, Piotr

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Gazeta Wyborcza - Poland | 17/08/2011

Weak German growth a problem for Poland

Germany's economic growth slowed down in the second quarter of this year compared to the first. This should also be worrying Poland, writes the chief economist of Poland's Citibank Piotr Kalisz in the liberal daily Gazeta Wyborcza: "The figures for the other EU countries lead us to conclude that economic growth will also slow down in Poland. The stagnation our western neighbour is experiencing must also be making itself felt here - even if we are not so closely allied with it as the Czechs. If economic growth continues to decelerate worldwide the złoty will depreciate against the euro and the franc. This has an impact on the amount of investment and confidence in our market. Next year, our gross domestic product growth is likely to go down to just around three percent."

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