0:10 18 October 2024
World Bank Raises Poland's Economic Growth Forecast for 2024-2026
The World Bank has updated its economic growth forecast for Poland, projecting a 3.2% GDP increase in 2024, followed by 3.7% in 2025, and 3.4% in 2026. These revised figures are higher than earlier predictions, driven by rising real incomes, dynamic household consumption, and significant public sector investments. The report highlights the positive effects of wage hikes and increased social benefits, with household consumption expected to grow by nearly 5% in 2024 following a decline in 2023.
Additionally, record-high military spending and the utilization of previously frozen EU funds will further support economic growth, particularly in 2025 and beyond. Despite this, the World Bank notes that net exports will have a negative impact on Poland's GDP in 2024 due to rising imports from strong domestic demand and weaker exports to the EU. However, an improvement in net exports is anticipated from 2025 onward.
These revised forecasts signal optimism for Poland's economic resilience, particularly as Europe and Central Asia stabilize after recent crises, though overall growth remains lower than the early 2000s.
