Poland's economic growth rate will fall in 2023 to around 3 percent, the National Bank of Poland (NBP) governor said on Friday.
This year's economic growth is expected to reach 3.8 percent while annual inflation is to amount to 9.1 percent, according to a Finance Ministry macroeconomic forecast published on Tuesday.
Russia's war on Ukraine has driven up inflation, the head of the National Bank of Poland (NBP) said on Thursday.
The Polish retail sector could get a boost owing to increased demand for foodstuffs and other products caused by the huge number of refugees from Ukraine now in Poland, the newspaper Rzeczpospolita reported on Friday.
S&P Global Ratings revised down Poland's GDP growth forecast for 2022 to 3.6 percent from its previous estimate of 5.0 percent, on the back of economic consequences of the war in Ukraine.
Andrzej Duda, the president of Poland, has said that the Polish government has decided to grant Moldova EUR 20 million interest-free credit to help it deal with problems caused by the ongoing war in Ukraine, and the growth of energy and gas prices.
Adam Glapiński, the governor of the National Bank of Poland (NBP), has said the bank's rate-setting body (RPP) is determined to bring inflation down to target "as quickly as possible".
Poland will raise its defence spending from the Nato-recommended minimum level of 2 percent of GDP to 3 percent in reaction to the Russia-Ukraine war, the ruling party leader has said.
The European Commission expects Poland's GDP cumulative economic growth in the years 2020-2023 to be the highest in the European Union, the head of the Polish Government Analysis Centre has reported.
Polish inflation will likely stay above the central bank’s target till end-2023 amid a fast-growing economy, central bank (NBP) governor Adam Glapiński has said.