World Bank upholds Polish GDP forecast at 0.7% in 2023

The World Bank has maintained its forecast for Poland's economic growth in 2023 at 0.7%. However, the bank predicts that the country's GDP growth could accelerate to 2.6% in 2024 due to a rebound in private consumption and investment, as well as higher public spending. The bank noted that Poland's economic growth could slow significantly this year due to high inflation, tighter monetary policy, the effects of Russia's invasion of Ukraine, and slowing demand from major trading partners. The World Bank also pointed out that higher energy and food prices will continue to dampen household demand in 2023, particularly affecting lower-income households, who allocate half of their monthly expenses to food and energy.

Source: obserwatorfinansowy.pl