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Polityka Online - Poland | Wednesday, June 2, 2010

Funerals and floods take their toll on Polish economy

Poland's economic growth rate, which for some time has been among the highest in Europe, is likely to slow down in the second quarter, writes the online edition of the news magazine Polityka: "The second quarter will certainly not be strained by the winter, but nor will its results be impressive. We recall that the funeral services in April already put a considerable damper on business and the flood has caused not only enormous material damage but also disrupted normal life in several regions. Naturally the Polish economy is strong enough today to prevent these events from plunging us into a recession. But for now we can only dream of accelerated growth - particularly given that dark clouds are once again gathering over Europe. Many countries, frightened by the panic reactions on the markets, are beginning to cut expenditure and raise taxes in a rush."

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