Poland will quickly overcome short-term slowdown - PM
Poland's GDP will record the lowest decline in the EU, says the EC, and Eurostat reports that Poland has the second lowest unemployment. Poland's forecast for 2021 shows that it will soon exit the short-term economic slowdown, PM Mateusz Morawiecki wrote on Facebook.
Morawiecki noted that "hard data, facts and truth will speak for themselves" and added that the billions paid out to Polish entrepreneurs had saved millions of jobs and saved Poland from the worst wave of the crisis.
"This is some of the most important news in recent months and crowns the enormous effort of all Poles - the government, the President, entrepreneurs and employees!" wrote the prime minister.
As he noted, "first, Eurostat reported that Poland has the second lowest unemployment in the European Union; yesterday the European Commission released a report according to which our country's GDP will record the lowest decline among all countries of the community."
"But this is not the end, our forecasts for 2021 show that the economic rebound will be strong enough to quickly overcome this short-term slowdown. If this is not the best comment to assess the effectiveness of support programs that the Polish government has prepared and introduced as one of the first in the world, I don't know what can be, "wrote Morawiecki.
The results of the EC's summer economic forecasts presented on Tuesday show that in 2020 Poland's GDP will shrink by 4.6 percent. Although the decline in dynamics will be slightly larger than analysts from Brussels predicted in spring, the recession in Poland is expected to be the shallowest in the entire EU. The eurozone economy is expected to shrink by 8.7 percent in 2020, and its GDP is expected to increase by 6.1 percent next year, according to EC forecasts.