World Bank GDP growth forecast for Poland upgraded

The World Bank has increased Poland’s GDP growth forecast for 2019 by 0.1 percent since October and by 0.8 percent since mid-2018. The forecast for GDP growth now stands at 4 percent.

The upgrade in the 2019 forecast for Poland is justified by the high level of both consumption and investment. The 2020 forecast is for 3.6 percent growth and 3.3 percent for 2021.

Polish PM Mateusz Morawiecki was quick to welcome the report: "Pleased that the World Bank has recognized the growth and dynamism of the Polish economy and has raised its GDP growth forecast for 2019. Such signals coming from international institutions show that the development potential of our country is increasingly being recognized in the world”

Darker clouds

Overall the latest World Bank “Global Economic Prospects” report is as pessimistic as its headline title “Ever darker clouds” suggests. The authors of the report forecast falling economic growth due to tensions in trade, a slow-down in growth of the Eurozone, problems of developing countries and the rising risks in emerging markets. 

However, the World Bank is more optimistic about the prospects in Poland, Hungary and Serbia pointing to “modest inflation and low interest rates” supporting faster growth.

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