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I UNDERSTAND
English Section

IMF ups forecast for Polish 2021 GDP growth

30.07.2021 07:30
The International Monetary Fund has revised upward its forecast for Poland’s economic growth this year.
Photo:
Photo:EPA/JIM LO SCALZO

In its latest World Economic Outlook report, the IMF predicts Polish GDP will grow 4.6 percent in 2021 as the economy regains momentum after a downturn triggered by the coronavirus pandemic.

In April, the IMF forecast 3.5 percent GDP growth for Poland this year.

The IMF predicts that economic growth in Poland will pick up to 5.2 percent in 2022, above its previous forecast of 4.5 percent.

The IMF said its upward revision of global growth forecasts reflected "additional fiscal support in a few large economies, the anticipated vaccine-powered recovery in the second half of 2021, and continued adaptation of economic activity to subdued mobility."

Poland’s central bank earlier this month updated its GDP growth forecasts for the country, saying it now expects the economy to expand 5 percent this year, followed by 5.4 percent growth in 2022.

The European Commission in July upgraded its forecast for Polish GDP growth this year to 4.8 percent, from a previous projection of 4 percent.

The Polish economy shrank 2.7 percent in 2020 after posting 4.7 percent growth in 2019, according to the country’s Central Statistical Office (GUS).

(gs)

Source: PAP, TVP, businessinsider.com.pl