The recent forecast of GDP growth for 2016 is promising, especially for Poland.
- Poland: 3.6%
- Turkey: 3.2%
- Spain: 2.7%
- UK: 2%
- Germany: 1.5%
- France: 1.3%
- Italy: 1.1%
- Russia: -1.3%
Why the prospects are so good? The first positive feature is the big fall in the oil price, which has helped to bring down inflation to around zero. The continental European economies are large beneficiaries of this shift as none of them is a large oil producer. Zero inflation means that real incomes are rising, with wage-earners seeing modest pay.
A second positive feature is the European Central Bank’s quantitative easing programme which has supported confidence in financial markets and the economy more generally. On its own, quantitative easing is not a magic bullet to restore growth. But as in the case of the UK and the US in 2009, it can turn round financial sentiment and boost confidence when other factors are becoming more positive.
Back to list
Read also
May 29, 2024
Polskie prawo przewiduje dwie instytucje, które pozbawiają osoby najbliższe prawa do zachowku.
Po pierwsze, może to uczynić sam...
Read more
May 28, 2024
Woźniak Legal has successfully represented a Polish FX mortgage borrower over validity of the Swiss franc loan taken by him and his wife (both...
Read more
May 27, 2024
Inheritance laws in Poland are fairly simple and straightforward. However, having an estate lawyer by your side can greatly help you, especially...
Read more