Poland's GDP increase to reach 2-2.5 pct in Q4

Poland's economy will expand by 2-2.5 percent in the fourth quarter of the year while inflation will fall to 6.5-7 percent, the president of the Polish Development Fund (PFR) has said.

"Real incomes are likely to grow by 2-3 percent," Pawel Borys wrote on X on Thursday, adding that this should increase consumption. 

"But investments and exports are the main driving force of the economy," he said. 

Poland's GDP decreased by 0.6 percent year on year in the second quarter of 2023, the Central Statistical Office (GUS) reported in a flash estimate on Thursday.

Poland's economy contracted by 0.3 percent year on year in the first quarter of 2023, after a 2.3-percent growth in the fourth quarter of 2022.

According to GUS, prices of consumer goods and services (Consumer Price Index, CPI) increased by 10.1 percent year on year and remained flat month on month in August 2023.