NBP: Inflation report projects slower GDP growth in Q1 ‘25
17:09
The November 2024 "Inflation Report" from the National Bank of Poland (NBP) revises down GDP growth projections for 2025. The first quarter is expected to grow by 3.3% (down from 4.3% in July), and the full year by 3.4% (previously 3.8%). Growth is hindered by weaker German economic performance, lower consumption in Poland, and reduced investments.
For 2026, the growth forecast is 2.8%, below the previous 3.1%. CPI inflation is projected at 5.6% in 2025, and 2.7% in 2026. NBP analysts also highlight weaker exports, particularly to Germany, and subdued consumer and investment activity, despite strong public investments and EU funds.
