Economy
16:03 7 July 2020
Post by: WBJ

Poland’s GDP drop to be smallest in EU in 2020: EC

Poland’s GDP drop to be smallest in EU in 2020: EC
Representative image. Source: pexels.com

The Polish economy will shrink by 4.6 percent in 2020 and will expand by 4.3 percent in 2021, as the HICP inflation declines to 2.7 percent in 2020 and edges up to 2.8 percent in 2021, the European Commission (EC) said in its Spring 2020 Economic Forecast.

In May’s forecast, the EC expected Poland’s GDP decline at 4.3 percent in 2020 and see a 4.1-percent increase in 2021.

According to the EC, despite Poland’s government intervention and economic support, consumption in Poland in 2020 will suffer, as consumers will be more likely to save and refrain from shopping due to the uncertainty and threat of the coronavirus epidemic. “This, combined with broken supply chains and a drop in orders in March and April, and low confidence of entrepreneurs will probably have an impact on investment. The commission expects them to collapse in the second quarter and only a partial rebound is expected,” EC said.

(Puls Biznesu)

poland
eu
gdp
ec
polish
2020
shrink
lowest
4.6 percent

More News

lifestyle

LifeStyle
10 days ago

Polish guy selling Mongolian Dream in Med

LifeStyle
17 days ago

'I associate my future with Poland, because nowhere I feel as good as here'

LifeStyle
1 month ago

Domoteka launches new coworking space

LifeStyle
1 month ago

The slowest exhibition of Polish designers in the outdoor version!

Book of Lists

Book of Lists
4 months ago

25th jubilee edition of Book of Lists – project start

advertisement