22:21 24 June 2020
IMF with bad news about global economy and bittersweet rating for Poland
The International Monetary Fund cuts forecasts for global economic growth. According to the IMF, the pandemic has more negative effects on the world economy than previously thought, and the rebound will be slower than what was forecast in April. However, Poland is one of the few countries to which the IMF has not changed its forecast for 2020 or 2021.
For Poland, this is good news on the one hand, and not entirely on the other, because many countries have increased their forecast for 2021. Moreover, the IMF believes that the largest recession may take place in 2020 since the Great Depression.
The IMF predicts that the global GDP decline will be 4.9 percent in 2020, i.e. by 1.9 pp less than forecast in April. In turn, in 2021 GDP growth is to reach 5.4 percent in the world. For Poland, however, the forecast remains the same as in April. Therefore, the IMF maintains that this year Poland's GDP will fall by 4.6 percent, while in the next year it will increase by 4.2 percent.
On the list of 30 countries, shown by the IMF, Poland is one of the three countries that have saved themselves from cutting the forecast for both years – the others are Iran and Turkey.
