In its latest Inflation Report, released on Monday, the National Bank of Poland (NBP) said that there was a risk that Polish GDP growth could be dampened by a “possible further weakening of business conditions in the world economy.”
The Polish central bank added that one of the risk factors “is a longer and possibly more dramatic course of the coronavirus epidemic.”
The bank also said that “a more dramatic course of the coronavirus epidemic combined with a sustained slowdown in global trade and the deteriorating business sentiment would translate into a downward revision of the forecast economic growth in Poland ...”
The central bank also forecast in its latest report that Poland’s GDP would grow by 3 percent in 2022.
In its November projection, the bank said it expected the Polish economy to grow 3.6 percent in 2020 and 3.3 percent in 2021.
The Polish economy grew 3.2 percent in the final quarter of last year and expanded by 4 percent in 2019 as a whole, according to the country’s Central Statistical Office (GUS).
Poland’s prime minister said last month that, despite a global slowdown, the country’s economy was likely to grow around 3.3 percent this year and next.
Meanwhile, the Organisation for Economic Cooperation and Development (OECD) warned last Monday that the coronavirus outbreak could plunge the global economy into its worst downturn since 2009.
(gs)
Source: PAP, nbp.pl