11:45 16 August 2024
Poland’s Economy Currently the Fastest-Growing in the EU
In the second quarter, Poland's GDP increased by 1.5 percent, the highest growth among EU countries for which data was collected by Eurostat. This positions Poland as the undisputed leader in terms of accelerating economic growth.
Ireland came in second with a growth of 1.2 percent q/q, but its national accounts have been controversial for years. Many multinational corporations are headquartered in Ireland, but they operate and earn revenue in other countries, which is only reflected in Irish economic statistics. The Netherlands secured third place with a GDP growth of 1 percent q/q.
But it's not just the seasonally adjusted data that is surprisingly strong. According to GUS (Statistics Poland), GDP in the second quarter increased by 3.2 percent compared to the same period last year. This is higher than in the first three months of the year and significantly exceeds market expectations, which government representatives commented on.
"Everyone is surprised by the growth of the Polish economy in the second quarter of this year. It was supposed to be 2.7 percent, but it's 3.2 percent. We are outperforming all major EU countries, and we're beating the Germans by a wide margin," Prime Minister Donald Tusk wrote on platform X.
