Goldman Sachs expects WIG index to grow 11% in 2023

The WIG broad market index on the Warsaw Stock Exchange will increase by 11% in 2023, Goldman Sachs forecasts. However, it draws attention to the persistent geopolitical risk.

“With winter posing particular risks to European growth through the oil and gas channel, we remain cautious about exposure to Poland in the near term, but see opportunities in Q1 as the outlook for European growth becomes clearer," Goldman Sachs analysts said. 

The analysts emphasize that the shares of Polish banks are undervalued in relation to European ones.