Fitch lowers Poland's GDP growth forecast for 2021, raises for 2022

Justin Lane/PAP/EPA

The Fitch Agency has downgraded Poland's economic growth forecast in 2021 to 3.3 percent year on year from the 4.5 percent expected in late September and raised it to 5.1 percent in 2022 from 3.3 percent forecast earlier.

According to Fitch, Poland's inflation at the end of 2020 will stand at 2.8 percent, 1.7 percent in 2021 and 3.5 percent at the end of 2022.

Poland's GDP in 2020 is to fall by 3.4 percent, private consumption will fall by 3.3 percent in 2020 and rise by 5.8 percent in 2021 and by 4.3 in 2022, Fitch wrote.

Investments will fall by 6.9 percent this year and increase by 3.5 percent next year and by 12.5 percent in 2022, reads the report published by the agency on Monday.