Poland’s GDP will increase by 1.5% in 2023 while annual average inflation will stand at around 12%, the development and technology minister has said.
Minister Waldemar Buda said that he was optimistic about a GDP growth in 2023 and that he believed it would amount to 1.5%.
“Analyses speak about values ranging from 0.5% to 1.9%. But 1.5% is feasible,” Buda said on December 22.
Referring to inflation, the minister said that it would surely be lower than in 2022.
“It will be going down in the first quarter. Later, it will go up slightly. And it will begin decreasing in the second half of the year,” Buda said, adding that the annual average inflation would stand at around 12%.
The draft budget for 2023 envisages Poland’s GDP growth at 1.7% and annual average inflation at 9.8%.
According to the Central Statistical Office, prices of consumer goods and services (Consumer Price Index, CPI) increased by 17.5% YoY and by 0.7% MoM in November.
Poland’s GDP increased by 3.6% YoY in the third quarter of 2022, after a 5.8% growth in the second quarter. (The First News/Business World Magazine)