IMF downgrades Poland's GDP growth forecast

The International Monetary Fund (IMF) has lowered Poland's GDP growth forecasts for this year and next year.

According to the latest IMF's World Economic Outlook report, published on Tuesday, Poland's GDP is currently expected to grow 3.8 percent in 2022 and 0.5 percent in 2023, down by 0.7 pp against prior 2022 forecast and down by 1.5 pp against previous expectations for 2023.

Poland's average annual CPI is seen at 13.8 percent in 2022 reaching 15.8 percent at the end of the year. In 2023, the average annual inflation will be 14.3 percent and will fall to 9.0 percent at the end of the year, the authors of the report wrote.

According to the IMF, Poland's current account deficit is likely to reach 4.0 percent of GDP in 2022, and 3.3 percent in 2023.