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Polish economy grew 2.7% in Q3 2024: stats office

28.11.2024 10:15
The Polish economy grew 2.7 percent in the third quarter of this year, after expanding by 3.2 percent in the second quarter of 2024, the country’s statistics office said on Thursday in a preliminary estimate.
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The reading was in line with a flash estimate released by the Statistics Poland (GUS) office in mid-November.

Investment rose by 0.1 percent, while private consumption increased by 0.3 percent in Poland in the third quarter of 2024, Statistics Poland reported.

Domestic demand grew 4.4 percent, it said.

The European Commission this month raised its forecast for Polish economic growth in 2024 to 3 percent, from a previous projection of 2.8 percent.

The World Bank last month revised its projection for Polish GDP growth this year to 3.2 percent, up from a previous forecast of 3 percent.

Poland’s central bank on November 8 predicted that the Polish economy would expand 2.7 percent this year, followed by 3.4 percent growth in 2025 and 2.8 percent in 2026.

Polish lawmakers this month approved plans to amend this year’s budget amid lower-than-expected tax revenues and additional spending on cleanup after recent floods. The revised financial plan maintains an economic growth target of 3.1 percent in 2024.

Poland's gross domestic product expanded by 0.2 percent in 2023 as a whole, after growing 5.6 percent in 2022, according to Statistics Poland.

(gs)

Source: PAP, IAR