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IMF: Polish GDP will grow by 3.5% in 2021

The International Monetary Fund (IMF) raised its forecast of Poland’s GDP growth for 2021 from 2.7 percent in January to 3.5 percent

editor: REMIX NEWS
author: Grzegorz Adamczyk
via:

The IMF has followed in the footsteps of a number of institutions, including the World Bank, to adjust its forecast of Poland’s GDP growth upwards for the current year. At the same time, the IMF has also lowered its forecast for Poland’s GDP growth in 2022 — down from 5.1 percent in January to 4.5 percent.

According to the IMF’s estimates, inflation in Poland will slow down from 3.5 percent in 2020 to 3.2 percent in 2021. In 2022, it will amount to 2.5 percent.

The IMF increased its forecast for global GDP by 0.5 percentage points up to 6 percent. It also upped its forecast for 2022 by 0.2 percentage points (4.4 percent), according to Polish news outlet Dorzeczy

In the “World Economic Outlook April 2021” report, the IMF explained that the improved forecasts for global GDP are a reflection of additional financial support in several large economies, a better forecast for economic recovery due to vaccinations in the second half of 2021, and the constant adjustment of economic activity to suppressed mobility.

The IMF warned in the report that these forecasts were uncertain due to the pandemic’s progress, and how fast governments can return their countries to normal through vaccination efforts.

The IMF also forecasted a 6.4 percent growth in GDP in the US in 2021 and 3.5 percent in 2022. For the eurozone, the IMF foresees a 4.4 percent increase in 2021 and 3.8 percent in 2022. In the case of Germany itself, the GDP growth is expected to be 3.6 percent in 2021 and 3.4 percent in 2022. China’s GDP is meant to grow by 8.4 percent in the current year and by 5.6 percent in 2022.

Poland has the lowest unemployment rate in the EU for a second month in a row

According to the latest Eurostat report, the seasonally adjusted unemployment rate in Poland was 3.1 percent in February 2021, unchanged compared to the previous month. This means that Poland maintained its position as the country with the lowest unemployment rate in the EU.

The seasonally adjusted unemployment rate in the Eurozone was 8.3 percent in February, also unchanged compared to the month before.