WB raises Poland's 2022 GDP growth forecast

The World Bank (WB) has raised Poland's GDP growth forecast for 2021 from 3.8 to 4.5 percent and for 2022 from 4.5 to 4.7 percent, the bank wrote in a report published on Wednesday.

The bank also lowered its 2023 GDP forecast for Poland by 0.5 percentage points to 3.3 percent.

The report's authors wrote that CPI inflation in Poland will fall from the present 4.2 percent to 3.6 percent in 2022 and 3.1 in the following year.

The report places Poland as one of the EU's most resilient economies, with growth and poverty reduction additionally furthered by a strong financial sector and the effective employment of EU investment funding.

"The well-diversified Polish economy has proven to be one of the most resilient in the EU, with a 2.7 percent contraction in GDP in 2020, the first output contraction since 1991. A sound macroeconomic framework, effective absorption of EU investment funds, a sound financial sector, and better access to long-term credit supported inclusive growth and poverty reduction," the report reads.