15:12 3 June 2024
Polish economy grows on consumption; experts waiting for second engine
Polish economy's performance in Q1, driven mainly by consumption, suggests a GDP growth of 3.7% y/y for the entire year, according to PKO Bank Polski. The bank also expects an improvement in investment dynamics to further boost economic growth.
In the second half of 2024, investment is expected to revive due to the activation of EU funds, becoming a second growth driver alongside consumption. GUS data showed a GDP growth of 2% y/y in Q1 2024, with consumption accelerating to 4.6% y/y, while investments fell by 1.8% y/y. Positive foreign trade balance and increased domestic demand contributed to this growth.
