Polish GDP up 3.7 pct in '21, 4.7 pct in '22 - OECD

Poland's GDP is expected to rise 3.7 percent this year and 4.7 percent in 2022, the Organisation for Economic Cooperation and Development (OECD) said on Monday in its latest economic outlook report.

OECD also expects Poland's general government sector deficit at 6.7 percent in 2021 and down to 3.7 percent in the following year.

OECD noted that the progress of Covid-19 vaccinations in Poland will enhance the gradual lifting of pandemic restrictions, which in turn will boost the consumer market. According to the organisation, Poland's GDP should return to its pre-pandemic level by the end of this year.

Also expected is a slight investment upswing, which, however, will be curbed by pandemic-caused insecurity on the investment market. According to OECD, Poland's labour market will remain stable.

Economic growth in Poland will be further boosted by funding from the EU's post-pandemic recovery fund.

Rising raw-material prices will boost CPI inflation this year, but the price growth rate should ease somewhat in 2022, OECD wrote.