Poland's GDP to fall by 2.6 pct in 2020 and grow by 3.2 pct in 2021

Leszek Szymański/PAP

Poland's economy will drop by 2.6 percent in 2020 and expand by 3.2 percent in 2021, according to the results of a survey conducted by the National Bank of Poland (NBP). Average inflation will reach 3.2 percent in 2020 and 2.5 percent in 2021.

Recession scenarios are not being completely ruled out by experts polled by the central bank but the probability of a negative GDP growth remains very low, at 9 percent in 2021 and 7 percent in 2022. In 2021, Poland's economic growth will likely range between 1.1 and 4.7 percent, while in 2022 - between 1.8 and 3.8 percent, reads an NBP report.

Typical scenarios regarding inflation speak about this year's CPI between 2.5 and 3.8 percent. In 2021, inflation is likely to go down.

The spring edition of the NBP macroeconomic survey was carried out on March 28-April 2 among 22 experts representing financial and scientific institutions as well as trade unions and entrepreneur organisations.