In 2023, inflation will slow down gradually

In the coming year, inflation will slow down, but it will be still far away from healthy levels, Rzeczpospolita reports. Economists expect consumer price growth to peak in February at 20-21% and then to decline. Credit Agricole forecasts a slowdown in inflation to around 6% at the end of the year, and on average, it will be about 12% in 2023, its chief economist Jakub Borowski said.

Poland's gross domestic product is expected to grow in real terms by only 0.5% in 2023, after about 4.7% in the previous year, according to 27 analytical teams and individual economists surveyed by Rzeczpospolita.

Pessimists believe that GDP will fall by about 0.5 percent, while optimists expect an increase of just over 1%. But regardless of which of these scenarios materializes, this year promises to be one of the weakest in terms of economic growth after 1995. Since then, Poland has experienced a decline in GDP only once, in 2020, when the pandemic began.