Republic of Poland: Staff Report for the 2004 Article IV Consultation
Volume/Issue:
Volume 2004
Issue 217
Publication date: July 2004
ISBN: 9781451831863
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Topics covered in this book
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Business and Economics , Exports and Imports , Inflation , Public Finance , ISCR , CR , GDP , government , current account , state government , headline inflation , inflation expectation , wage demand , exchange rate , IMF staff estimate , Inflation , Current account deficits , Western Europe , Europe
Summary
This 2004 Article IV Consultation for Poland highlights that with strong exports and robust consumption, its GDP growth picked up gradually, reaching 6.9 percent (year over year) in the first quarter of 2004. Nevertheless, investment growth remains moderate. Financial markets have been unsettled. Despite low inflation, long-term interest rates have risen since mid-2003, initially in response to the announcement of an expansionary 2004 budget and more recently to unsettled politics. The weak responses of investment and employment raise concern about fundamental impediments to the recovery.
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