Poland

In the second quarter of 2020, GDP fell by 7.9%, but the third quarter has brought some respite to industry. Monetary and fiscal policies have been very expansionary so far, limiting the scale of GDP decline. Inadequate demand remains the chief problem, followed by the falling profitability of firms and continuing uncertainty, also over the pandemic. Consumption may not recover and investment will decline further. Moderate improvements in 2021 and beyond are possible, but not guaranteed.

map Poland
        FORECAST*
Main Economic Indicators201720182019202020212022
Population, 1000 persons384343842338397...
GDP, real change in %4.85.44.5-4.43.53.4
GDP per capita (EUR at PPP)203702142022810...
Gross industrial production, real change in %6.65.94.1...
Unemployment rate - LFS, in %, average4.93.93.33.64.03.8
Average gross monthly wages, EUR100610771144...
Consumer prices, % p.a.1.61.22.13.22.02.0
Fiscal balance in % of GDP-1.5-0.2-0.7...
Public debt in % of GDP50.648.845.7...
Current account in % of GDP-0.3-1.30.50.70.40.2
FDI inflow, EUR mn101821480912809...
Gross external debt in % of GDP68.463.659.3...


Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.

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POLAND: This time not quite a success story

Leon Podkaminer
in: No Quick Recovery in Sight, with Coronavirus Risks Looming Large
wiiw Forecast Report No. Autumn 2020, November 2020 , pp. 96-99
Details and Buy

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Monthly Report No. 5/2020

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Bernd Christoph Ströhm and Hermine Vidovic
wiiw Monthly Report No. 5, May 2020
96 pages including 27 Tables and 39 Figures

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