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
March 01, 2023
17th edition of Fraud, Asset Tracing and Recovery conference will be held in Geneva on 16-17 March 2023 on cryptocurrencies, fraud, law enforcement...Read more
February 21, 2023
Woźniak Legal has successfully represented a Polish FX mortgage borrower over validity of the Swiss franc loan taken by the borrower (acting...Read more
February 08, 2023
Amendments to the Labour Code which introduce the remote work come into force on 7 April 2023. Other changes to the Labour Code (including the sobriety checks of employees)...Read more