Poland: IMF downgrades GDP growth forecast

The International Monetary Fund (IMF) has lowered Poland’s Gross Domestic Product (GDP) growth forecasts for this year and next. According to the IMF’s World Economic Outlook report published on January 30, Poland’s GDP is currently expected to grow by 0.3% in 2023, down from 0.5% predicted in the previous report issued in October 2022. In…

Poland: GDP to grow in Q1 2023

Polish economic growth will slow to 0.5% in Q1, a government-sponsored think-tank has forecast. Poland’s Gross Domestic Product (GDP) increased by 4.9% YoY in 2022, the Central Statistical Office (GUS) reported. This year, however, economists expect the growth will decline significantly. “Owing to a mild winter, we are not observing a reduction in industrial activity,”…

Poland: defence spending record high in NATO

Poland’s plan to spend as much as 4% of its GDP on defence this year may be the most ambitious among all NATO member states, Mateusz Morawiecki, the Polish prime minister, has said. The Prime Minister and the defence minister, Mariusz Blaszczak, visited the 18th Mechanised Division in Siedlce, eastern Poland, on January 30. Morawiecki…

Poland: more firms plan wage hikes

There is a slight rise in firms planning wage hikes in the coming quarter despite a drop in wage pressure, the National Bank of Poland (NBP) wrote on January 30 in a report. The number of firms planning to increase wages in the coming quarter increased slightly despite a drop in wage pressure, the National…