Poland, as one of the three EU countries, at the end of 2021 will exceed the level of 2019 in terms of gross domestic product value, PKO Bank Polski forecasts.
"The European Commission has revised downward the GDP growth forecast in Poland in 2021, but thanks to the lower than previously assumed GDP decline in 2020, the GDP level will exceed the level recorded before the outbreak of the pandemic this year: as one of the few in the EU", we read the entry on PKO BP's Twitter account.
The two other EU countries expected to break above pre-pandemic GDP this year are Ireland and Lithuania. Both these countries will overtake Poland in terms of growth dynamics. The first country is to record a particularly good result – Ireland's GDP by the end of 2021 is to reach a value of 6 percent higher than in 2019.
Luxembourg is expected to return exactly to the level from two years ago. The average GDP results in the European Union countries at the end of this year will be less than 3 percent. lower than at the end of 2019.
A slightly worse average result – within minus 3 percent compared to 2019 – the euro area will record. Greece will have the most catching up in terms of GDP in terms of pre-pandemic levels. The economy of the country on the Balkan Peninsula will still be almost 7 percent lower than at the end of 2019. About 6 percent of Spain's GDP will be lower than in two years, while Italy's GDP was less than 6 percent.