22:30 9 April 2020
Post by: WBJ

Poland’s GDP to plummet to 0.4% in 2020, rise to 2.2% in 2021: World Bank

Poland’s GDP to plummet to 0.4% in 2020, rise to 2.2% in 2021: World Bank
Source: Adobe Stock

The GDP growth rate of Poland in 2020 will slow down to 0.4 percent, and in 2021 it will accelerate to 2.2 percent, World Bank analysts have forecast in a report.

“The Polish economy, which has been accelerating in recent years, will slow down rapidly due to the effects of the coronavirus pandemic, affecting mainly the weakest companies and employees. Therefore, significant investments in health care, social security and immediate help for companies without excessive administrative burdens are needed,” the report published on April 9 states.

“All macroeconomic forecasts today are subject to a high risk of error due to uncertainty about how the pandemic will develop. The pace of economic development will also largely depend on the support tools used by the state and how companies and households behave,” the report adds.


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