Tuesday, Poland's government reportedly slashed its economic growth outlook. The government now expects the economy to grow 0.5%-1%, down from an initial estimate of 1.7% growth.

The government's outlook is far better than a 1.4% contraction predicted by the European Commission in its autumn forecast released Monday.

The government projects a growth of 0.5%-1.3% for the next year, while the European Commission sees 0.8% growth.

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