Poland Finance Minister Sees Growth Picking Up from 2nd Half of 2013

Date : 11/21/2012 @ 12:31PM
Source : Dow Jones News

Poland Finance Minister Sees Growth Picking Up from 2nd Half of 2013

By Marcin Sobczyk

WARSAW--Poland's economy is likely to grow faster again from the second half of next year after the euro zone's crisis stabilizes, Finance Minister Jan Vincent-Rostowski said on CNBC Europe Wednesday.

"We have every reason to suppose there'll be a stabilization in the euro zone in the second half of 2013, and stabilization in the euro zone means recovered, accelerating growth in Poland, that's always been the case," he said.

The Polish economy is expected to slow this and next year from 4.3% growth in 2011.

A rally that has pushed Poland's 10-year bond yields to historic lows will likely continue due to the country's sound economic prospects, he said.

"We see no reason why it shouldn't continue. We think we've established credibility that in these difficult times will stand us in good stead in the year ahead. I think that credibility is visible not only on yields, but also CDS spreads."

The yield on zloty-denominated 10-year bonds was at 4.08% on Wednesday afternoon.

Write to Marcin Sobczyk at marcin.sobczyk@dowjones.com

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