Poland's GDP decline should not exceed 5 pct in 2020 - expert

According to Hardt, "the moment of the deepest economic slowdown is already behind Poland but the return to normalcy - if possible at all until an effective coronavirus vaccine is invented - will be long-lasting." Leszek Szymański/PAP

Poland's Monetary Policy Council (RPP) member Łukasz Hardt said on Tuesday that Poland's GDP should not shrink by more that 5 percent in 2020 while the unemployment rate should not reach a two-digit value and would likely stand at 7-8 percent.

Hardt told a seminar organised by the Sobieski Institute that recession was inevitable in Poland but that the economic decline should not be bigger than 5 percent. He also added that it should not lead to a dramatic growth of unemployment.

According to Hardt, "the moment of the deepest economic slowdown is already behind Poland but the return to normalcy - if possible at all until an effective coronavirus vaccine is invented - will be long-lasting."