WIIW The Vienna Institute for International Economic Studies - Wiener Institut für Internationale Wirtschaftsvergleiche

The ‘fourth wave’ of the pandemic currently presents little cause for concern. From a mild decline in GDP, Poland has seen a shift towards recovery. The rising wage bill supports a strong recovery in consumption without jeopardising corporate profitability. Growth in gross fixed capital formation is still inadequate, but industrial production is performing very well. An upturn in inflation has not unduly affected the central bank’s monetary policy. However, the course of fiscal policy remains uncertain. Overall, Poland’s prospects are good, but conflicts with the European Commission need to be resolved.