The International Monetary Fund (IMF) has raised Poland's GDP growth forecast for this year from 4.6 percent forecast in July to 5.1 percent, according to its latest World Economic Outlook.
Poland's constitutional court ruling strains relationship with the European Union and is credit negative, rating agency Moody's said in its October 8 report.
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 Sejm (lower house) on Friday passed amendments to this year's budget, raising revenues by PLN 78 billion (EUR 17 billion) to PLN 483 billion (EUR 105 billion) and expenditures by PLN 37 billion (EUR 8.1 billion) to PLN 523.4 billion (EUR 114 billion).
Stronger than expected economic growth that has fuelled both revenue and spending has prompted the Polish government to amend this year’s budget.
The Fitch ratings agency has raised its projection for Poland's 2021 GDP growth to 5.7 percent and kept its 2022 estimate at 4.5 percent, the agency said in a report published on Thursday.
The Polish minister of finance has praised the condition of the Polish economy and public finances at an event aimed to discuss solutions for the industry currently facing a difficult situation.
The finance minister has stated that the recent economic expansion data show the strength of the Polish economy, which has been quickly returning to a path of growth after the coronavirus-related crisis.
Poland's GDP rose by a record 11.1 percent year on year in Q2 2021 from a 0.9-pct drop y/y in Q1, the Central Statistical Office (GUS) reported on Tuesday.
Polish GDP could increase by 3.7 percent in 2023 and by 3.5 in the following two years, according to figures laid out in the 2022 draft budget.