Oecd lifts polish 2012 growth forecast

The Polish economy is likely to grow faster than previously expected in 2012, the Organization for Economic Cooperation and Development said Wednesday, urging Warsaw to improve its fiscal credibility by consolidating its finances.

The Paris-based OECD expects stronger growth this year of 3%, compared with its previous forecast of 2.5%, though this latest reading still marks a slowdown from Poland's official estimate of last year's growth at 4.3%.

Output is likely to slow to 2.75% in 2013, it said.

"Poland has been the best growth performer within the OECD through the global economic crisis," the organization said, adding the slowdown will result from the government's planned fiscal tightening and the European economy "grinding to a halt."

Source: MarketWatch.com