IPAG: this year's GDP will increase by 4.5%, in 2023 by 4%

In 2022, the gross domestic product will increase by 4.5 percent, and in the next year by 4.0 percent, assessed the Institute for Economic Forecasts and Analyzes (IPAG). According to experts, the dynamics of economic growth will decline in the following quarters of this year.

As IPAG said on Friday, any further waves of the coronavirus pandemic will not result in the imposition of new restrictions on economic life, and the geopolitical situation will stabilize in the coming months.

According to the Institute, the expected economic situation "should be described as favorable". It was added that in the first half of this year further increases in NBP interest rates are expected.

The IPAG forecast shows that inflation in Poland will reach two highs in 2022.

"The first one should be expected in January. In the following months, the impact of the reduced excise duty and VAT on some goods will become visible, and the effect of increased interest rates will also be visible," analysts indicated.

(PAP)