Polish economy slowing down warn experts

Darek Delmanowicz/PAP

Poland's economy is slowing down, with a GDP drop to 2.7 percent expected in Q3 2022, after a drop from 8.5 to 5.3 percent in Q2, a state-owned think tank reported on Wednesday.

According to the Polish Economic Institute (PIE), by the end of Q4 inflation will be at 14.5 percent but should rise to 15.6 percent in February 2023 due to rising energy prices.

In July inflation increased by 15.6 percent year on year.

PIE experts said that the slowdown is caused by waning consumption and cuts in industrial production. They added that sales were down mostly in the car, furniture and electronics markets.

Despite the slowdown, Poland economic growth will still be high compared to the rest of the EU, largely due to the inflow of Ukrainians following Russia's invasion of their country in February, PIE wrote.