Poland's economy likely to expand by 4.8 pct in 2021 - think-tank

Polish Economic Institute (PIE) experts believe that Poland's GDP likely grew by 10 percent year on year in the Q2 2021, and that its annual GDP increase will reach 4.8 percent.

"This will be a higher growth than 4.4 percent expected earlier," PIE experts wrote in a report published on Monday.

PIE analysts have attributed the high economic growth recorded in the Q2 2021 to individual consumption and strong foreign demand.

"We believe that the 12.9-percent year on year increase of Polish households' spending raised the GDP by 7.2 percentage points," they wrote, adding that it was still necessary to wait for full monthly data since the available ones did not cover the services sector "which had been hit most by the coronavirus-related restrictions."