Poland's GDP, National Bank of Poland

The economic situation in Poland is still very favourable, and the GDP growth will amount to approx. 7%. y/y in the first quarter and over 4 percent throughout the year, says the president of the National Bank of Poland (NBP) and the chairman of the Monetary Policy Council (MPC) Adam Glapiński.

Poland’s GDP is growing rapidly

“At the moment we have such a situation. First of all, the economic situation in Poland is very favourable. I wanted to emphasise this very strongly. GDP is growing rapidly. Therefore, there are conditions for increasing wages and all other benefits”  said Glapiński during the press conference yesterday.

As he added, “in Q4 last year GDP increased by more than 7 percent. In the first quarter of this year, the increase will probably also amount to approx. 7%. Throughout the year – clearly over 4 percent. – These are extremely strong increases. This makes us happy”  he said.

The National Bank of Poland inflation projection assumes that the annual GDP growth rate will amount to 50%. probability in the range of 3.4-5.3 percent. in 2022 (compared to 3.8-5.9% in the projection from November 2021), 1.9-4.1% in 2023 (compared to 3.8–6.1%) and 1.4–4% in 2024.

The National Bank of Poland also said that the inflation soon will be in double-digits!

Different GDP forecast for Poland

During the last week there were different forecasts regarding the Polish GDP in 2022. S&P lowered their forecast for Poland’s GDP in 2022 and the same did a Polish bank.

We can only wait and see who will be right and of course many things can happen and with the war in Ukraine still going on, we have one big uncertain parameter that can affect not “only” the Polish economy but the entire world’s economy. Just like we have seen in the last couple of weeks.

Source: 300gospodarka


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