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Polish economy grows 5.1% in Q3 2021: flash estimate

12.11.2021 12:30
Poland's gross domestic product grew 5.1 percent in the third quarter of this year, the country’s Central Statistical Office (GUS) said on Friday in a flash estimate.
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The reading was 0.3 percentage points higher than expected by analysts, state news agency PAP reported, as the economy regains momentum after an unprecedented downturn triggered by the coronavirus pandemic.

Poland's GDP grew 11.2 percent in the second quarter of this year, after contracting 0.9 percent in the first quarter amid the COVID-19 disruption, according to the state-run statistics agency.

The European Commission on Thursday raised its forecast for Polish economic growth this year to 4.9 percent, from a previous projection of 4.8 percent.

Poland’s central bank this week forecast that the country’s economy is on track to expand 5.3 percent this year, followed by 4.9 percent growth in 2022 and 2023.

Poland’s government in late September approved the country's budget for next year, which expects the economy to grow 4.6 percent in 2022, after an expected 4.9 percent growth rate this year.

Finance Minister Tadeusz Kościński told reporters at the time that the Polish economy was regaining momentum after a recession last year due to the coronavirus pandemic.

International ratings agency S&P Global in September upgraded its forecast for Poland's GDP growth this year to 5.1 percent, from a previous projection of 4.5 percent.

The Polish economy shrank 2.5 percent in 2020 after posting 4.7 percent growth in 2019, according to the Central Statistical Office.

The Polish statistics office is expected to report full third-quarter data on November 30.

(gs)

Source: PAP