EC puts Poland’s growth at 0.5% for 2023

The European Commission (EC) has downgraded its forecast for Poland's GDP growth this year to 0.5%, a decrease from the previous 0.7% estimate in May. Despite some adjustments, the EC anticipates that inflation rates will remain significantly higher than the National Bank of Poland's target.

The EC expects a sharp economic slowdown in Poland in 2023, with growth of 0.5%, citing factors like declining real private consumption and negative inventory contributions, although exports and investments are expected to rise. However, in 2024, GDP growth is forecasted to reach 2.7%, driven by private consumption and supported by government fiscal measures. Inflation is expected to decrease to 6.1% in 2024.

Source: 300gospodarka.pl