The International Monetary Fund (IMF) has upgraded Poland's economic growth in 2020 to -3.6 percent from -4.6 percent forecast in June. In 2021, Poland's economy is to expand by 4.6 percent, up from 4.2 percent, according to the autumn World Economic Outlook forecast.
The European Bank for Reconstruction and Development (EBRD) has revised the forecast of Poland's GDP growth in 2021 to 3.0 percent from 4.0 percent forecasted in May, Beata Javorcik, the bank's chief economist told PAP on Thursday.
The Polish economy is expected to shrink by 3.4 pct in 2020 against a previous 4.0 pct decline, global ratings agency Standard & Poor said in its revised forecast.
The Fitch rating agency has affirmed Poland's rating at A- with a stable outlook, the agency said in a Friday statement.
Good growth outlook supports Poland's rating, with the country facing a number of credit challenges including a significant structural deficit and a return to fiscal rules after the pandemic, rating agency Moody's wrote in a report dated September 15.
Poland took 32nd place in the Responsible Development Index (RDI) prepared by the Polish Economic Institute (PIE) to measure the level of development of countries as an alternative to GDP growth, PIE said on Wednesday.
Polish GDP may increase by as much as 7-8 percent quarter on quarter in the third quarter of 2020, while declining to 2-3 percent throughout the whole of 2020, Head of the Polish Development Fund (PFR) Paweł Borys told public broadcaster TVP Info on Tuesday.
Large investments are not only the engine of economic growth but also the foundation of future civilisation development, President Andrzej Duda wrote in a letter to participants of the 3rd Development Vision Forum in Gdynia.
During several weeks of the coronavirus pandemic, the share of e-commerce in Poland's retail trade grew from 5.5 percent at the end of 2019 to nearly 12 percent, reads a report by the Santander bank.
Figures from Eurostat show a dramatic growth in the battery recycling done in Poland with over 500 percent more batteries recycled in 2018 compared to 2010.
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