The reading was in line with a flash estimate released by the Statistics Poland (GUS) office in mid-August.
Investment rose by 2.7 percent, while private consumption increased by 4.7 percent in Poland in the second quarter of 2024, Statistics Poland reported.
Domestic demand grew 1.7 percent, it said.
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.
Poland’s government on Wednesday approved the country's budget for 2025, which expects the economy to grow 3.9 percent next year.
Finance Minister Andrzej Domański last month reaffirmed his forecast that Poland’s economy would grow 3.1 percent in 2024.
The National Bank of Poland (NBP), the country's central bank, in early July predicted that the Polish economy would expand 3 percent this year, followed by 3.8 percent growth in 2025 and 3.1 percent in 2026.
The International Monetary Fund in mid-July kept its forecast for Polish economic growth this year unchanged at 3.1 percent. The financial agency predicted that the Polish economy would expand 3.5 percent next year, maintaining its projection from April.
International ratings agency S&P Global in June upgraded its forecast for Poland's GDP growth this year to 2.9 percent, from a previous projection of 2.8 percent. The agency also raised its forecast for Polish economic growth in 2025 by 0.2 percentage points to 3.3 percent.
The European Bank for Reconstruction and Development (EBRD) said in May that it expected Polish GDP to grow 2.9 percent this year and 3.5 percent in 2025.
The European Commission in May raised its forecast for Polish economic growth this year to 2.8 percent, from a previous projection of 2.7 percent. The EU’s executive also predicted that the Polish economy would expand 3.4 percent next year.
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
