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EU trims Polish 2022 GDP growth forecast to 3.7%

17.05.2022 06:00
The European Commission has revised downward its forecast for Polish economic growth this year to 3.7 percent, from a previous projection of 5.5 percent, amid Russia's war in Ukraine.
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“Russia’s invasion of Ukraine has posed new challenges, just as the Union had recovered from the economic impacts of the pandemic,” the EU executive said on Monday.

"By exerting further upward pressures on commodity prices, causing renewed supply disruptions and increasing uncertainty, the war is exacerbating pre-existing headwinds to growth,” it added.

The Commission predicted that the Polish economy would grow 3 percent in 2023, below its previous forecast of 4.2 percent.

Meanwhile, the EU executive upgraded its 2021 GDP growth estimate for Poland, saying that the country's economy expanded by 5.9 percent last year, Polish state news agency PAP reported.

Prime Minister Mateusz Morawiecki predicted last month that Poland's 2022 GDP would grow no less than 4 percent despite Russia's war on Ukraine.

Poland's President Andrzej Duda in February signed into law the country’s budget for 2022, which expects the economy to grow 4.6 percent this year.


Source: IAR, PAP, ec.europa.eu