Polish economy grows 7.3% in Q4 2021: stats office
The Polish economy grew 7.3 percent in the final quarter of last year, the country’s Central Statistical Office (GUS) said on Monday in a preliminary estimate.
Pixabay LicenseImage by Gerd Altmann from Pixabay
The reading was in line with a flash estimate released by the office earlier this month.
Investment increased by 11.7 percent, private consumption rose 7.9 percent, and domestic demand grew by 11.2 percent in Poland in the fourth quarter of 2021, the Central Statistical Office reported, as the economy regains momentum after a downturn triggered by the coronavirus pandemic.
Poland’s GDP grew 5.3 percent in the third quarter of last year, after expanding by 11.2 percent in the second quarter and contracting 0.9 percent in the first quarter, according to the state-run statistics agency.
The European Commission this month raised its forecast for Polish economic growth in 2022 to 5.5 percent, from a previous projection of 5.2 percent.
The EU executive also upgraded its estimate for Polish GDP growth last year, saying that the country’s economy expanded by 5.7 percent in 2021 as a whole.
Poland’s President Andrzej Duda this month signed into law the country’s budget for 2022, which expects the economy to grow 4.6 percent this year.