Economy

14:27 1 December 2021

Post by: WBJ

S&P lowers Poland's GDP growth forecast in 2022 to 5%

S&P lowers Poland's GDP growth forecast in 2022 to 5% — Source: Wikimedia Commons

The S&P Global Ratings agency increased the forecast of Poland's GDP growth in 2021 to 5.2 percent from 5.1 percent, and decreased for 2022 to 5.0 percent from 5.3 percent, according to the S&P Global Ratings report from November 30.

According to S&P, the Polish economy is to grow by 3.3 percent in 2023. The agency expects the average annual inflation in Poland in 2022 to be 5.1 percent and 2.9 percent in 2023 and an increase in the NBP reference rate at the end of 2022 to be 2.90 percent from 1.25 percent now, with the prospect of further increases in 2023 to 2.25 percent and 2.50 percent in 2024.

The report does not provide a rationale for the forecasts. Previous S&P estimates were from the end of September. It is only known that the main analyst of the S&P agency for Poland, Karen Vartapetov, said that he is quite far from a situation where the issues of tense relations with the EU could affect Poland's rating, and the agency still counts on a compromise with Brussels and does not see any risks for the rating, e.g. on the fiscal side.

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