WARSAW, Oct. 17 (Xinhua) -- Poland's GDP growth is expected to reach 4.7 percent in 2018, 3.9 percent in 2019 and 3.6 percent in 2020, the World Bank wrote in a Wednesday-published report, raising its April respective estimates of 4.2, 3.7 and 3.5 percent.

Poland's budget deficit may reach 1.6 percent in 2018 and get closer to 2 percent by 2020, mainly due to growing welfare expenditures and the lowering of the retirement age.

The growth will continue to be supported by private consumption and investment as well as government spending, according to the World Bank.

In August this year, Polish Investment and Development Minister Jerzy Kwiecinski said that in the third quarter of 2018, solid GDP growth should be expected in the region of 4.5-5 percent.

In his assessment, the positive trend will be maintained in the second half of the year. Stablisation of the growth rate at 4.5 or even 5 percent of GDP would be, the minister believed, desirable for the economy.

"On the one hand, it shows that the growth is sustainable, driven by three engines -- consumption, investment and export -- while on the other, it guards against the situation overheating and allows the economy to be maintained on the path of sustainable development," Kwiecinski said.