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Current Account Balance Better than Expected in Poland

Poland’s central bank released statistics for October showing the country’s current account balance was higher than analysts’ predictions. 

The balance of payments for October was a deficit of €605 million. The number came in €75 million better than Societe Generale, who estimated the balance of payments would be a deficit of €680 million.

Export figures for October were €15.45 billion compared to imports of €15.629 billion, leaving a negative trade balance of €179 million.

Poland’s economy is in good shape with growth expected to top 3.5% in 2015. Similar growth is expected for next year.

The country is currently getting used to a change in government after eight years of Civic Platform rule, with Law & Justice (PiS) taking an overall majority of seats in recent elections.

Earlier in the year, Andrzej Duda won the presidency for the party, taken from Civic Platform’s Bronislaw Komorowski.

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