Meanwhile, the EU executive maintained its prediction that the Polish economy would expand 2.7 percent next year, Polish state news agency PAP reported.
"The Polish economy is expected to decelerate sharply and grow by 0.5% in 2023 with a negative contribution from inventories and falling real private consumption while net exports and investment are set to grow," the EU executive said earlier this week.
It added that in 2024 Polish GDP growth "is expected to reach 2.7 percent, remaining below historical average."
Private consumption "is set to be the main growth driver" of the Polish economy "as inflation pressures abate and additional government fiscal measures increase disposable income of households, including additional social support for families with children and pensioners," the European Commission also said in its Summer 2023 Economic Forecast for the 27-nation bloc.
Poland's gross domestic product contracted 0.6 percent in the second quarter of this year, according to a preliminary estimate released by the country's statistics agency at the end of last month.
The Polish economy shrank 0.3 percent in the first quarter of this year, after expanding by 2 percent in the final quarter of 2022, according to the state-run Statistics Poland (GUS) agency.
In 2022 as a whole, Poland's gross domestic product grew 5.1 percent, according to a revised estimate released by Statistics Poland in April.
Poland's President Andrzej Duda last month signed into law the country’s revised budget for 2023, which expects the economy to grow 0.9 percent this year.
(gs)
Source: IAR, PAP, economy-finance.ec.europa.eu