Private consumption and fixed investment are seen expanding strongly, supported by fiscal relief measures. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. Economy - overview: Poland has the sixth-largest economy in the EU and has long had a reputation as a business-friendly country with largely sound macroeconomic policies. Do they offer lessons for its neighbors? The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July). Poland GDP Forecast. Economic forecasts Summer 2020 Economic Forecast: A deeper recession with wider divergences The EU economy will experience a deep recession this year due to the coronavirus pandemic, despite the swift and comprehensive policy response at both EU and national levels. Poles have seen an increase in revenues, boosted employment and wages, and increased revenue in the country’s pay-as-you-go pension system. The forecast for 2020-2021 is maintained at 3.6% and 3.3%, respectively. We forecast that real GDP growth will contract in 2020, owing to the global outbreak of the novel coronavirus, which will also severely affect external demand. Poland's gross domestic product expanded by a seasonally adjusted 7.9 percent on quarter in the three months to September 2020, the steepest period of expansion since comparable records began in 1995, partially recovering from a historic 9.0 percent slump seen in the second quarter. Poland has benefitted … facts. 2  In this article, we review Poland's economy … Poland economic growth for 2018 was $1,242.82B, a 1.99% increase from 2018. Then you can access your favorite statistics via the star in the header. And what must Poland do to continue its progress in the coming decades?To get a sense of the historic achievement, it is worth recalling that, for most of more than a thousand years of its history, Poland (along with the rest of Central and Eastern Europe) was a perennial economic underachiever. Please contact us to get started with full access to dossiers, forecasts, studies and international data. A paid subscription is required for full access. Please authenticate by going to "My account" → "Administration". In addition, this country’s economy known for being one of the fastest growing in the Central part of Europe seeing a growth rate of 6% and more prior to the global financial crisis of 2008. WARSAW (Reuters) - The World Bank on Wednesday raised its forecast for Poland’s GDP growth in 2019 to 4.3% from the 4.0% expected in April, citing rising domestic consumption and a … New, Figures and insights about the advertising and media world, Industry Outlook Labour market participation in Poland is forecast to remain between 53% and 52% between now and 2025, below the EU forecast average of 55.5%. The World Bank predicts a gradual return to growth for Poland, estimating growth recovering to 2.2% in 2021 and 2.9% in 2022. Poland’s working-age population is forecast to fall by up to 1% between now and 2025. "Economic forecasts of major banks in Poland in 2020." It is yet more proof that our policy supports dynamic economic growth." Economic forecast for Poland Economic forecast for Poland The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July). John Beauchamp January 13, 2020. Kaczynski claimed that by 2033 Poland will reach the EU GDP per capita average and in 2040 catch up with Germany. Poland Economic Forecasts Published monthly, Eastern Europe Consensus Forecasts offers a comprehensive outlook for the Polish economy; covering 14 macroeconomic variables over a 2 year forecast horizon. Poland Economic Growth After contracting notably this year on the hit from coronavirus containment measures, the economy is projected to rebound in 2021. This statistic is not included in your account. 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But due to a steep second wave of the coronavirus pandemic in Poland and the associated re-introduction of containment measures, we are more downbeat about Q4 and H1 2021. While Poland's growth is one of the fastest in Europe and Central Asia, overall growth dynamics in the region are being adversely affected by the downturn in Turkey and Russia. On the rise: Poland’s economy is expected to keep on growing this year. It is projected that Poland’s real GDP … It means, that the IMF forecasts a slight slowdown of Polish economy in upcoming months and an expected retard till 2.8% in the medium term, which is the consequence of adverse demographic data. This week we take a look at what’s in store for Poland’s economy in 2020. Ratings agency Standard & Poor's has raised its GDP growth forecast for Poland to 4.1 percent in 2019, but an upgrade in its “A-” … In April, World Bank economists projected economic growth in Poland to reach 4.0% in 2019. Directly accessible data for 170 industries from 50 countries and over 1 Mio. As soon as this statistic is updated, you will immediately be notified via e-mail. While the rest of Europe fell into recession following the start of the global crisis in 2008, Poland kept growing. It might be hard to picture now. Inflation rose, but it remains below 2.5 percent. Forecasts are provided by leading economists whose individual views are shown together with the average (mean) forecast. What about the roots of Poland’s success? In 2019, the growth in real gross domestic product (GDP) in Poland was up 4.1 percent from the year before, continuing a trend of positive growth in GDP. source: Central Statistical Office of Poland (GUS) 3Y 10Y 25Y Poland’s economic forecast for 2020 Business | Podcasts. Profit from additional features by authenticating your Admin account. ", Money.pl, Economic forecasts of major banks in Poland in 2020 Statista, https://www.statista.com/statistics/1085737/poland-economic-forecast-by-major-banks-in-poland/ (last visited December 12, 2020), Economic forecasts of major banks in Poland in 2020, GDP growth forecast: Eastern Europe, U.S., U.K. and Germany 2010-2024, Distribution of gross domestic product (GDP) across economic sectors Poland 2019, Annual business confidence index for the industrial sector in EU 2008-2022, Annual business confidence index for the industrial sector Poland 2008-2022, Industry revenue of »manufacture of refined petroleum products« in Poland 2011-2023, Industry revenue of »manufacture of basic iron, steel, ferro-alloys« in Poland 2011-2023, Industry revenue of »processing and preserving of meat« in Poland 2011-2023, Industry revenue of »manufacture of machinery for mining, quarrying« in Poland 2011-2023, Industry revenue of »manufacture of soft drinks and bottled waters« in Poland 2011-2023, Annual business confidence index for the service sector Poland 2008-2022, Industry revenue of »management of real estate on a fee or contract basis« in Poland 2011-2023, Industry revenue of »rental and operating of own or leased real estate« in Poland 2011-2023, Advertising agencies revenue in Poland 2010-2022, Industry revenue of »business and other management consultancy activities« in Poland 2011-2023, Restaurants and mobile food service activities revenue in Poland 2010-2022, Annual business confidence index for the retail sector Poland 2008-2022, Industry revenue of »retail sale in non-specialised stores with food« in Poland 2011-2023, Industry revenue of »sale of cars and light motor vehicles« in Poland 2011-2023, Industry revenue of »retail sale of automotive fuel in specialised stores« in Poland 2011-2023, Industry revenue of »dispensing chemist in specialised stores« in Poland 2011-2023, Industry revenue of retail sale of clothing in specialised stores in Poland 2011-2023, Economic outlook index in Switzerland from September 2019 to September 2020, Impact of COVID-19 on economic outlook Vietnam 2019-2020, Expert survey on the economic outlook for selected countries 2019, by quarter, Forecasted impact of COVID-19 on retail businesses in the Netherlands 2017-2020, Scenarios for the economic impact of COVID-19 on GDP in the Netherlands 2020-2021, Forecast of the budget deficit in the Netherlands 2015-2021, Influence of the crisis on personal finances in the Netherlands 2018, COVID-19 pandemic's level of impact on personal finances in selected countries 2020, COVID-19 pandemic: Share of persons with a most severe impact on their finances 2020, Forecast of the general government gross debt in the Netherlands 2013-2021, Russian economy outlook by European businesses 2020, by term, Hungarians on the duration of COVID-19's effects on their household's finances 2020, Agricultural sector volume forecast change in the Netherlands 2014-2021, Forecast of unemployment rate in the Netherlands 2013-2021, Employment forecast change in the Netherlands 2015-2021, Poll on the impact of a second COVID-19 wave on personal finances in Hungary 2020, Forecast of the annual change of wages in private sector in the Netherlands 2015-2021, Construction sector forecast volume change in the Netherlands 2014-2020, Forecast of the annual CPI change in the Netherlands 2015-2021, Health and wellness sector volume forecast change in the Netherlands 2014-2020, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. ... (or 2.7% of total employed persons in the economy… Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Poland economic growth for 2018 was $1,218.62B, a 1.97% increase from 2018. Poland - Economic Forecasts - 2020-2022 Outlook This page has economic forecasts for Poland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Poland economy. Learn more about how Statista can support your business. Poland 2025 marks both the 25th anniversary of the beginning of the economic and political changes that have since transformed Poland as well as the 20th anniversary of the founding of McKinsey’s Polish office. Please do not hesitate to contact me. Marcin Obara/PAP. However, Hungary will almost certainly veto this. Since 1989, Poland’s economy has become almost three times larger. Since 1990, Poland has pursued a policy of economic liberalization. Following the EU demographic trend, Poland… This site is managed by the Directorate-General for Communication, Aid, Development cooperation, Fundamental rights, Follow the European Commission on social media. Poland economic growth for 2018 was $1,195.03B, a 2.14% increase from 2017. Poland successfully managed its integration into the European Union since joining in 2004, and during the 2008-09 global financial crises it was the only member to experience growth. Register in seconds and access exclusive features. Its failure to address rule-of-law issues may prompt the EU to try to impose sanctions on Poland. Poland admits most economic immigrants from outside EU: report Poland In 20:10 27-Nov-20 'We all want to strike a compromise' on EU budget, Polish climate minister says France 24 16:34 27-Nov-20 Japanese agency R&I rates Poland A with stable outlook - Fin Min The First News 13:25 27-Nov-20 Economic forecast in Poland 2020, by major banks Published by Adriana Sas, Jan 6, 2020 The five largest banks in Poland presented economic forecasts for Poland … Meanwhile, the country’s fiscal deficit declined to 0.4 percent in … Poland is a high-income country with a large and diversified domestic economy. Economic growth is projected to remain solid, but ease gradually as labour resources become scarcer and production costs rise. This feature is limited to our corporate solutions. Poland economic growth for 2018 was $1,255.33B, a 1.01% increase from 2018. Money.pl. It provides a comprehensive set of political, economic, and business environment forecasts that are updated monthly for 82 countries, written from the point of … The economy of Poland is an industrialized, mixed economy with a developed market that serves as the sixth largest in the European Union (EU) and the largest among the former Eastern Bloc members of the EU. As a Premium user you get access to background information and details about the release of this statistic. Corporate solution including all features. You need a Single Account for unlimited access. (January 1, 2020). Please create an employee account to be able to mark statistics as favorites. "Economic Forecasts of Major Banks in Poland in 2020. You can only download this statistic as a Premium user. But Poland’s rapid economic ascent created new challenges. The country was essentially stranded on the periphery of the E… Are you interested in testing our corporate solutions? In, Money.pl. This report focuses on how economic and political developments will shape the business environment in Poland over the next five years. You only have access to basic statistics. Poland - Domestic Demand GDP falls at slower rate in third quarter amid lifting of Covid-19 restrictions According to a preliminary estimate, the economy contracted at a milder pace in the third quarter, with GDP decreasing 1.6% on an annual basis following Q2’s record-breaking 8.4% slump. Poland announced a rescue package designed to shield the economy from the impact of the coronavirus that will cost around 212 billion zloty ($52 … Country Economic Forecasts - Poland We have raised our 2020 GDP forecast by 0.5pp to -3.0% as high-frequency data points to a stronger-than-expected bounce in Q3. The creative destruction on which the growth process was based also caused massive social changes that … Accessed December 12, 2020. https://www.statista.com/statistics/1085737/poland-economic-forecast-by-major-banks-in-poland/, Money.pl. During the current global economic slow-down, Poland stands out as a European growth champion. Since 1990, Poland has pursued a policy of economic liberalization and its economy was the only one in the EU to avoid a recession through the 2007–08 economic downturn. The ideal entry-level account for individual users. Statista. removing VAT tax breaks, as Poland has one of the European Union's largest VAT revenue shortfalls.The central bank should gradually raise its policy interest rate from early 2018 as inflation moves closer to the target and economic slack dissipates. Economic forecasts of major banks in Poland in 2020 [Graph]. The same month President Morawecki tweeted: "The International Monetary Fund has raised the GDP forecasts for Poland in 2019 to 3.8 percent from 3.5 percent, and also lowered the CPI inflation forecast to 2 percent. You need at least a Single Account to use this feature. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from, Gross domestic product (GDP) in Poland 2021, Gross domestic product (GDP) growth rate in Poland 2021. Domestic demand will continue to drive growth: consumption will be supported by a tight labour market and investment by the disbursements of EU structural funds and low real interest rates. Poland is currently the sixth largest economy in Europe. Between 2016 and 2018, GDP growth accelerated to 4.3 percent, employment jumped by 2.5 percent and unemployment fell to a record low of 3.9 percent. Poland Global Economic Prospects examines trends for the world economy and how they affect developing countries. 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