World Bank cuts Poland's 2021 GDP growth forecast

The World Bank has reduced its forecast for Polish economic growth this year to 3.3 percent from 3.5 percent expected earlier.

The reduction comes amid higher uncertainty surrounding the Covid-19 pandemic and the sluggish vaccination process in Europe, the bank said.

Poland's GDP growth will be supported by trade recovery in the euro zone, improving sentiment and a rebound in private consumption, according to the World Bank.

The country's growth rate is expected to climb to 4.2 percent in 2022, a significant improvement on the 3.4 percent forecast issued in the autumn of 2020.