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Skip Navigation LinksHome :: Markets/asset classes :: Central and Eastern Europe :: Finance ministry likely to cut 2009 GDP forecast, raise 2008 CPI by end-week.

Tuesday, September 2, 2008

Finance ministry likely to cut 2009 GDP forecast, raise 2008 CPI by end-week.





Finance ministry likely to cut 2009 GDP forecast, raise 2008 CPI by end-week. The finance ministry is still working on an upgrade to its 2009 budget guidelines - after the Q2 GDP data's break-down published on Friday proved different that expected - but is set to publish the outcome by the end of this week, deputy finance minister Katarzyna Zajdel-Kurowska said. She admitted that the ministry was inclined to cut the 2009 GDP growth forecast from 5.0% expected in the June document, while it could raise the average annual inflation forecast for this year - from 4.1% set in June - though keeping the next year's figure at 2.9%. Last week, the daily Rzeczpospolita reported, quoting unofficial sources in the government, that the finance ministry was close to lowering its 2009 GDP growth forecast to 4.6%. On Friday, the Central Statistical Office (GUS) said that GDP (seasonally unadjusted) increased by 5.8% y/y in Q2vs. 6.1% in Q1. In nominal terms, GDP was PLN 308,468.5mn. In H1, GDP grew by 5.9% PLN 602,522.3mn. ISB







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