Coronavirus may slow down Polish economy to 2%

The development of the coronavirus epidemic may have a negative impact on the Polish economy and reduce the GDP growth rate to 2-2.5 percent in 2020, results from the analyzes of BNP Paribas Bank Polska. These are calculations after the OECD forecasts have fallen for all of Europe. The economic downturn on the continent will also affect Poland.

In the baseline scenario of the development of the coronavirus epidemic, the OECD assumes a fall in growth in the euro area from 1.2 percent to 0.8 percent, and Italy is most affected (forecast fall from 0.4 percent to 0 percent).

“According to OECD estimates, a negative scenario for the development of the coronavirus epidemic may reduce European GDP growth by about 1.3 percentage points in 2020. This, in turn, may translate into a slowdown in Poland's GDP by about 0.6 percentage points,” the report stated.

(Business Insider)