Polish economy grew 1.9% in Q1 2024: flash estimate

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The Polish economy grew 1.9 percent in the first quarter of this year, after expanding 1 percent in the final quarter of 2023, the country’s statistics office said on Wednesday in a flash estimate.

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The reading was slightly higher than the forecast of 1.8 percent by economists polled by state news agency PAP.

The Polish statistics office is expected to report full first-quarter data on June 3.

Poland’s gross domestic product expanded by 0.2 percent in 2023 as a whole, after growing 5.6 percent in 2022, according to the state-run Statistics Poland (GUS) agency.

Finance Minister Andrzej Domański said last month that Poland’s economy was on track to grow 3.1 percent this year and 3.7 percent in 2025. 

Poland’s central bank in March predicted that the Polish economy would expand 3.5 percent this year, followed by 4.2 percent growth in 2025 and 3.3 percent in 2026.

The European Commission in February kept its forecast for Polish economic growth this year unchanged at 2.7 percent.

The EU executive also predicted that the Polish economy would expand 3.5 percent next year, maintaining its projection from November.

Polish President Andrzej Duda in late January signed into law the country’s budget for 2024, which expects the economy to grow 3 percent this year.

(gs)

Source: PAP, IAR

Radio Poland

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