Poland will suffer less from virus crisis than any other EU economy: forecast

Poland will cope with the fallout of the coronavirus crisis better than any other economy in the European Union, the bloc’s executive predicted on Wednesday.

Image by Adam Górka from Pixabay

Image by Adam Górka from Pixabay Pixabay License

In its spring economic forecast, the European Commission said it expected Poland’s GDP to shrink by 4.3 percent this year, less than in any other EU country.

The Commission forecast that the GDP of the European Union as a whole would fall by 7.4 percent in 2020.

The Commission said it expected economic growth to return in 2021, with Poland’s gross domestic product increasing by 4.1 percent that year.

The Polish government estimated last month that the country’s GDP could shrink by 3.4 percent this year amid the coronavirus pandemic.

Finance Minister Tadeusz Kościński told reporters in April that Poland’s ambitious balanced 2020 budget, which is based on targets adopted before the coronavirus crisis and expected the economy to grow 3.7 percent this year, would likely be revised at the end of June or the beginning of July.

Meanwhile, the World Bank said last month it expected Polish GDP growth this year to slow to 0.4 percent, followed by a possible rebound to around 2 percent in 2021.

(pk/gs)

Source: PAP

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