Bright spot in Europe: Poland’s economy grows 4.3 percent in 2011 despite euro troubles

Despite the European debt crisis, Poland’s economy grew a brisk 4.3 percent in 2011, even more than its strong 3.9 percent growth rate for 2010.

The preliminary estimate released Friday by the Central Statistical Office underlines how strongly the economy has continued to grow in Poland, the largest of the ex-communist countries now in the 27-nation European Union.

“This is even more than was expected, though close to what we planned a year ago,” Prime Minister Donald Tusk said, expressing satisfaction and saying the numbers show his center-right government has managed the country well during a time of substantial financial upheaval.

The main motors of growth have been strong private consumption and accelerated investment by firms. The zloty currency has also weakened in past months, helping Polish exporters because it makes their goods cheaper on foreign markets.

Read more: http://www.washingtonpost.com/business/economy/polands-economic-growth-accelerated-to-43-percent-in-2011-despite-euro-troubles/2012/01/27/gIQAbJEtUQ_story.html