GDP data indicate no-recession scenario says MinFin
The latest GDP data show that Poland may see a "soft landing" and avoid a recession, the Finance Ministry has said.
Poland's Gross Domestic Product (GDP) increased by 2.0 percent year on year in the fourth quarter of 2022, the Central Statistical Office (GUS) reported in a flash estimate on Tuesday. Poland's economy expanded by 3.6 percent year on year in the third quarter of 2022, after a 5.8-percent growth in the second quarter.
However, the GDP shrank by 2.4 percent quarter on quarter.
Jakub Sawulski, a senior Finance Ministry official, said in a comment sent to PAP on Tuesday that the Polish economy may see a "soft landing" this year.
"The scenario assumes no recession and only a slowdown in growth in 2023 and a rebound in 2024," Sawulski wrote.
According to Sawulski, the slowdown in the last quarter of 2022 affected all developed economies.
"Poland will continue to catch up in terms of development level with the European Union's average," the official said, quoting the European Commission's estimate of a 2.9 percent growth of the Polish economy in 2023 and 2024 compared to 2.4 percent for the whole EU.