18:09 23 September 2024
Reconstruction efforts following flood to slightly boost GDP growth
Experts from Citi Handlowy predict that Poland's GDP growth during the post-flood recovery will be modest, estimated at 0.1-0.2 percentage points. The floods in September caused damages whose extent will become clearer in the coming days, with initial comparisons suggesting losses might be lower than in the Czech Republic, which estimates its damage at 1.2% of GDP. Historical data from the 1997 floods, costing approximately PLN 34 billion in today’s terms, provides a reference point. Immediate support will be provided to affected individuals, while infrastructure recovery investments are expected to extend into 2025 and possibly 2026.
Some recovery funding may come from EU cohesion funds, though a budget revision for 2024 is likely due to anticipated increased expenditures.
