Minister expects Polish economic growth at over 2% for 2023

Polish Minister of Economic Development and Technology Waldemar Buda has forecast that the Polish economy will not fall into recession

editor: Grzegorz Adamczyk
author: forsal.pl

As a result of the Polish government’s help with energy prices, the country’s economy should grow by over 2 percent in 2023, according to Waldemar Buda, the Polish minister for economic development and technology.

The state budget has been based on an assumption of growth of 1.7 percent, but Buda feels that this figure will be exceeded and there will not be a recession.

“Hard to call that a recession, it would be the dream of many European countries,” said Buda, speaking on Polish Radio 1. 

The minister is convinced that now that the government has introduced a maximum energy price for users, inflation should begin to stabilize and start to fall in the coming year.

He did acknowledge, however, that the effects of the current crisis will take between two and three years to work through the system. 

According to the Central Office of Statistics (GUS), the annual rate of inflation in Poland reached 17.2 percent in September. The state budget for 2023 assumes an average inflation rate of 9.8 percent. 

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