Poland's Gross Domestic Product (GDP) decreased by 0.3 percent year on year in the first quarter of 2023, the Central Statistical Office (GUS) reported on Wednesday.
The Polish government has approved the execution of the 2022 budget with a deficit of PLN 12.6 billion (EUR 2.8 billion).
Poland's GDP growth should average 0.6 percent in 2023, the Polish Economic Institute (PIE), a government-affiliated economic think-tank, reported on Wednesday.
The European Commission (EC), the EU's executive arm, has raised its 2023 GDP growth estimate for Poland to 0.7 percent from 0.4 percent forecast in February.
Poland's central bank (NBP)’s rate-setting Monetary Policy Council (RPP) decided to leave the reference interest rate at 6.75 percent for the eighth consecutive month on Wednesday arguing that a series of external and internal factors should bring inflation down.
The Institute for Economic Forecasts and Analyses (IPAG) has downgraded Polish GDP growth in 2023 to 1.2 percent from 1.5 percent previously forecasted.
The general government debt will grow to 4.7 percent of GDP in 2023 from 3.7 percent in 2022, the Finance Ministry has reported.
According to an updated version of Poland's convergence programme this year's GDP growth will be 0.9 percent, and respectively 2.8, 3.2 and 3.0 percent in 2024-26.
Poland's GDP growth will slow to 0.9 percent this year, while annual average inflation will hit 12 percent, a deputy finance minister has said.
Poland's GDP grew by 5.1 percent in 2022 versus 4.9 percent estimated earlier with Q4 2022 growth revised to 0.6 percent year on year from the previous 0.4 percent, the Central Statistical Office (GUS) reported on Thursday.
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