The European Bank for Reconstruction and Development (EBRD) has revised down Poland’s projected GDP growth in 2023 to 3.5% from 4.5%, according to the EBRD’s latest report.
At the same time, the EBRD has maintained its forecast for Poland’s 4% GDP growth this year.
According to the report, the downside risks related to geopolitical uncertainty and the humanitarian crisis caused by Russia’s war on Ukraine, further commodity and energy price hikes and trade disruptions are likely to influence Polish GDP.
Nevertheless, the bank noted, domestic demand will be supported by the influx of more than two million refugees from Ukraine.
The EBRD also said that although the structural challenges, posed by this influx were considerable, especially in housing, healthcare and education, refugees could help fill labour shortages. (The First News/Business World Magazine)