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GDP growth is projected to remain strong in 2018, before softening somewhat in 2019. Investment will pick up owing to faster disbursements of EU structural funds, and private consumption will grow strongly thanks to a buoyant labour market. Accelerating wages will underpin rising inflationary pressures.
Fiscal policy is projected to be supportive of growth, reflecting rising social transfers and an increase in public investment, but cyclical revenue gains will keep a lid on the budget deficit. Implementing a tighter fiscal stance through revenue-raising reforms or greater spending prioritisation would be welcome to sustainably finance the government's spending plans. To counter rising price pressures, monetary stimulus is projected to be removed gradually beginning in late 2018.
Economic Survey of Poland (survey page)