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EU trims Polish 2023 GDP growth forecast to 0.4%

13.02.2023 11:00
The European Commission has revised downward its forecast for Polish economic growth this year to 0.4 percent, from a previous projection of 0.7 percent, amid Russia's war in Ukraine.
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Meanwhile, the EU executive upgraded its 2022 GDP growth estimate for Poland, saying that the country's economy expanded by 4.9 percent last year despite the war in Ukraine, Polish state news agency PAP reported.

The Commission also predicted that the Polish economy would grow 2.5 percent in 2024.

"Almost one year after Russia launched its war of aggression against Ukraine," the EU economy as a whole "entered 2023 on a better footing than projected in autumn," the EU executive said on Monday.

It added that its "Winter interim Forecast lifts the growth outlook for this year to 0.8 percent in the EU and 0.9 percent in the euro area."

Poland's President Andrzej Duda in early February signed into law the country’s budget for 2023, which expects the economy to grow 1.7 percent this year.

Poland's gross domestic product grew 4.9 percent in 2022, according to a preliminary estimate released by the country's statistics agency at the end of last month.

(gs)

Source: IAR, PAP, ec.europa.eu