EBRD downgrades Poland's 2021 GDP growth forecast to 3.0 pct

The European Bank for Reconstruction and Development (EBRD) has revised the forecast of Poland's GDP growth in 2021 to 3.0 percent from 4.0 percent forecasted in May, Beata Javorcik, the bank's chief economist told PAP on Thursday.

The update follows the global increase in COVID-19 incidence, she said.

At the same time, EBRD has maintained its May forecast for Poland's 3.5-percent GDP contraction in 2020, Javorcik added.

The year 2020 will not be so bad for Poland, according to Javorcik. "Poland is a large and diversified economy, not very dependent on tourism and raw material exports and not significantly dependent on financial inflows from emigrants," the economist said.