The World Bank believes that despite the pandemic’s resurgence at the end of 2020 and new rise in infections, the positive economic situation in Poland will be supported by the rebound of trade in the eurozone, improved confidence, and a rebound of private consumption.
The World Bank’s report added that the 3.3 percent growth rate expected in 2021 is slightly lower than the 3.5 percent forecasted in October 2020 due to the uncertainty surrounding the pandemic and the vaccination process in Europe.
World Bank experts also forecast that following a moderate growth in 2021, the Polish economy will accelerate up to 4.2 percent in 2022. The forecast for 2022 is higher than previously expected (3.4 percent), partially thanks to the rebound of internal demand mainly in the area of investments.
“Although Poland’s GDP in 2020 dropped for the first time in 30 years, Poland’s diversified economy turned out to be one of the most resilient to the pandemic in Europe,” World Bank representative to Poland and the Baltic States Marcus Heinz explained.