What Economic Crisis?

Poland's individual consumption and ongoing modernisation of the economy will help the Polish economy to maintain relatively high growth, despite global slowdown, Monetary Policy Council member Andrzej Slawinski told public radio.

Talking about GDP growth, Slawinski pointed out that "the rate of individual consumption will hold at a decent level" and that "our economy is modernising fast."Poland will also be helped by low level of imbalances, with debt levels of households, corporates and the state still relatively low.

While offering no personal forecast for ther GDP growth, Slawinski described central banks' forecasts as more reliable than those prepared by commercial banks.Slawinski, what could be expected, declined to talk about further rate cuts. "It's too early to talk about a sequence and a scale," he said.

Source: Warsaw Voice, November 27, 2008