Poland's core inflation will likely decline in the coming months and quarters and will certainly start decreasing in H2, the governor of the National Bank of Poland (NBP) has said.
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 Polish economy will continue to grow and inflation will gradually fall to a single-digit level towards the end of this year, deputy finance minister has said.
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.
A drop in inflation could result in a faster rise in real wages in the second half of the year, an economist from the Polish Economic Institute (PIE) said on Friday.
The International Monetary Fund (IMF) expects Poland's economy to expand by 0.3 percent in 2023, by 2.4 percent in 2024, and by 3.7 percent in 2025.
Andrzej Duda, the Polish president, has said that the recent visit by US President Joe Biden has shown the importance of Poland's location and its strategic significance on the US map of security.
Poland's GDP should rise by 0.7 percent in 2023 against 3.6 percent forecast earlier, the World Bank has said in a report.
Poland's GDP will shrink by 0.3 percent in Q1 2023 but will grow by 1.2 percent year on year in the entire year, the Polish Economic Institute (PIE), a government think-tank, said on Monday.
Increases in food prices in Poland will be biggest in Q4 2022 and will slow in subsequent quarters to single-digit growth expected in Q4 2023, the National Bank of Poland (NBP) has forecast in its November inflation report.