Macroeconomic Forecast Poland

July 2007 | Macroeconomic Forecasts

According to data provided by the National Bank of Poland, the current account deficit came in at US$2.5bn during the first four months of 2007, increasing by 25.4% y-o-y from US$2.0bn during the same period in 2006. While exports rose by 15.0% y-o-y to US$3.3bn in January-April (down from 19.6% y-o-y during the first four months of 2006), imports grew by 20.1% y-o-y to US$3.5bn (slightly up from 19.7% y-o-y). Meanwhile, despite a 6.7% y-o-y decrease to US$3.4bn during the January-April period, the financial and current account surpluses continued to comfortably cover the current account shortfall which we forecast to reach a year-end level of 3.2% of GDP in 2007 (up from 2.3% in 2006).

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