Poland’s general government deficit will likely be lower in 2022 than the 4.7% of GDP the government has assumed in the budget law for next year, the central bank’s rate-setting body has said. When preparing the state budget for next year, the government also included its updated expectations concerning key economic figures for the current…
Polish GDP growth will slow to around 1.0-1.5% in the fourth quarter of 2022, the Polish Economic Institute (PIE), a government think-tank, said on November 15 in reaction to the latest figures from the Central Statistical Office (GUS). Poland is currently battling an inflation rate that hit 17.9% last month, while having to contend with…
Increases in food prices in Poland will be the biggest in Q4 and will slow in subsequent quarters to single-digit growth expected in Q4 2023, the National Bank of Poland (NBP) has forecast in its November inflation report. The NBP published the report on November 14 and projected that food price growth would stand at…
Poland’s GDP is expected to rise to 4.6% in 2022, according to projections from Poland’s central bank released on November 14. The bank also put GDP at 0.7% in 2023 before rising to 2% in 2024 and 3.1% in 2025. The central bank also predicts that Consumer Price Index inflation will run at 14.5% in…
As many as 30% of Poles are planning to ask for a pay rise within the next six months, according to a new poll. Of the 30%, UCE Research and SYNO Poland pollsters found that 31.9% said they wanted to ask for a rise equaling 10-15% of their current wage while 24% said they would…
The European Commission (EC), the EU’s executive arm, has lowered its 2022 GDP growth estimate for Poland to 4.0% from the 5.2% forecast in July. In a report published on November 11 the EC also lowered its 2023 GDP growth forecast for Poland to 0.7% from the 1.5% expected earlier. According to the European Commission,…
Inflation will peak at around 19% at the start of next year, but will fail to break the 20% barrier, says Adam Glapinski, governor of the National Bank of Poland (NBP). He added that inflation, which rose to 17.9% in October, should start to fall in the second quarter of 2023. Glapinski made the statement…