IMF sees Polish economy shrinking 0.5pc in 2009

Poland's economy is set to shrink 0.5 percent this year, making it one of Europe's least crisis-hit nations, but a modest 1.0-percent recovery in 2010 hinges on a continent-wide revival, the IMF said Tuesday.
"We predict a mild recession in 2009 and a modest recovery next year," said Alexander Hoffmaister, head of the International Monetary Fund's operations in the region.
"That's our central scenario. We see that the risks are still on the downside. The critical thing, in particular in 2010, will be how events in Europe hold up. If they do, we would expect the economy to grow slowly next year," Hoffmaister told reporters.
He declined to say how the IMF expected Poland to perform if the signs of green shoots in other recession-hit European nations turned out to be temporary.