S&P lowers Poland's GDP growth forecast for 2021 to 3.4%
23:24
S&P Global Ratings has lowered the GDP growth forecast in Poland for 2021 to 3.4 percent against 3.8 percent expected in December 2020, according to the agency's report. In turn, the forecast for 2022 was increased by 0.2 percentage points. up to 4.4 percent.
The agency forecasts that Poland's GDP will increase by 3 percent in 2023, and by 2.7 percent in 2024.
"We currently expect a slight decline in GDP in the first quarter, taking into account Recent increase in [COVID-19] cases and re-imposition of restrictions, however, will be partially offset by better-than-expected results for Q4 2020. While Poland is less exposed to the effects of a recovery in US demand, its manufacturing sector is closely integrated with the German industrial supply chain and will continue to benefit from strong external demand for products manufactured in this country," the report reads.
According to S&P, the average annual CPI inflation in Poland will slow down to 2.9 percent this year and to 2.1 percent in 2022. For the years 2023-2024, the forecasted inflation will amount to 2.2 percent each.
(ISBnews)
