Polish economy 'bad news for pessimists'

PM Tusk at opening day of Krynica Economic Forum: photo - PAP Grzegorz Momot

“I have bad news for pessimists,” Donald Tusk told delegates at the forum, now in its 23rd year in Krynica-Zdroj, a small town near the Tatra mountains in southern Poland.

“There will be no recession or stagnation in Poland,” he said, claiming that the economic slowdown, which has hit the ruling centre-right Civic Platform hard in opinion polls lately, is coming to an end.

“All indicators have been quite optimistic in recent months and more optimistic about the coming months,” Tusk said.

Tusk's optimism stems from Polish exports picking up speed as its main market, the eurozone, emerges from its longest-ever recession.

Industrial output grew at its fastest pace in the last 18 months in July.

By the end of the year, both the National Bank of Poland and International Monetary Fund expect Poland’s GDP to grow by 1.1 percent.

The motto of the 23rd Economic Forum is “Towards a New Deal” and 2,500 delegates will debate issues such as when, and if, to introduce the European single currency in Poland, reducing the economic distance between new” and older EU member states, the signing of the Association Agreement with countries of Eastern Partnership and the development of a new cooperation model between the EU, Russia and China. (pg)