Poland speeds up, while the world will slightly slow down

This year’s GDP will rise by as much as 2.9%, as the World Bank estimates. The rise will be slower than in the middle of 2015. This is due to the weaker results of the world economy, that is the lingering recession in such countries as Brazil or Russia, and we also can’t forget about the turbulences in the Chinese economy.

This year, it will be the countries exporting raw materials that will suffer the most, while in the countries importing those, the economy will speed up. This will be mostly visible with the oil import, as energy will be much cheaper. The world will expand slower because of the serious trouble of Brazil, Russia and South Africa. China grows slower, but India will continue to expand as predicted.

Russia will be slowly moving out of the recession. In 2015 GDP went down by 3.8%, if this year everything goes well, GDP will slow down by 0.7% and at the same time go back to growth as soon as 2017, although it still will be weak at merely 0.3%. For this reason Belarus will remain in recession this and the following year. 2016 should be much better for Ukraine with 1% growth compared with 12% fall in GDP in 2015.

The world economy will have to get used to slow growth in the biggest emerging markets. This is the effect of low raw materials prices and flow of trade and capital, as the main economist of the World Bank says.

The World Bank informed that for the Chinese economy the biggest risk lays in the growing debt. Looking at this from another perspective, the government has good prospects of using public assets for jump-starting the country’s economic growth.

The World Bank did not forget about the American economy, which is to lightly go down, which is due to strong dollar, among other factors.

In the EU, euro will distinctively go back up, which will have a very good effect on the economy of our region. The forecasted growth for the economic community this year is 1.8%. The rise of the GDP will be uneven, as in Ireland it is to be 3.8%, while in Poland 3.7%, there is nothing to worry as the same projections apply for 2017 as well.

The acceleration is mainly due to low energy prices and very good business outlook in the member states. The World Bank does not see economic danger for Poland on the part of the Russian economy. The EU countries to suffer the most because of Russia are Latvia, Lithuania, Finland, Slovakia and Slovenia, as these are the countries with the biggest export to Russia.