Poland, the exceptional East European?
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With Europe in meltdown, is Poland an exception? Europe’s sixth-largest economy has strong domestic demand, and has not yet adopted the euro: so it was able to devalue the zloty to maintain competitiveness. Poland’s economy grew by 3.8% in 2011, and is expected to grow by 2.5% in 2012 and 2.5% in 2013 (OECD forecast November 2011).
Though private consumption is expected to slow, increased exports should compensate for weaker internal demand, allowing the budget deficit to fall from its present 5.3%.
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