Citi predicts economic disaster in Poland

In Poland, in 2020, we may have 10.9 percent unemployment, a 3.2 percent decline in GDP, a 15 percent decrease in investment and the public finance sector deficit at 7.5-8 percent of GDP. Such data is a recipe for an economic catastrophe, but according to Citi Handlowy economists, it may be the most realistic scenario for the coming months.

Citi Handlowy economists also notice some of the first symptoms of the freezing of the Polish economy. Bank analysts also forecast that the recent loosening of monetary policy by the National Bank of Poland will continue in Q2 when the Monetary Policy Council (RPP) in the face of bad economic data will decide to cut interest rates by another 50 bp to 0.5%.

(Business Insider)