Poland has changed in an unimaginable and unprecedented positive way because the government has been supporting families, said Deputy Prime Minister and Minister of Development Jadwiga Emilewicz in Kalisz, central Poland, on Sunday.
The Polish economy will contract by 4.2 percent in 2020 and the country will see economic growth again in 2021, at 2.8 percent, the World Bank said in its latest report on Monday.
Despite 2020 seeing a slump to 0.4 percent, the World Bank says it foresees a better 2021, where they believe the growth rate will reach about 2 percent.
Purchasing power parity in Poland is now about three-times higher than it was in 1990.
Poland's economic growth is expected to reach 4.3 percent in 2019 driven by private consumption and higher investments, the World Bank has said in a report, having revised upwards its April 2019 forecast of 4.0 percent.
Poland was only outperformed by Romania with 5.1 percent growth and Hungary with 5.2 percent growth in the first quarter of 2019.
Piotr Arak from the Polish Institute of Economics think tank argues that Poland is a good example of how to improve revenues through improved taxation.
Poland's GDP growth is expected to reach 4.0 percent in 2019, 3.6 percent in 2020 and 3.3 percent in 2021, the World Bank announced on Friday. Poland's budget deficit may rise to 1.4 percent of GDP in 2019 and to 1.6 percent in 2020, the bank's report said.
Beata Javorcik comes to the European Bank of Reconstruction and Development having worked at the World Bank in Washington DC. She also has a PhD in Economics from Yale University and is the first woman in history to hold the title of Statutory Professorship in Economics at the University of Oxford.
Poland's economic growth will reach 4.0 percent in 2019, the World Bank has announced, having revised upwards its October 2018 forecast of 3.9 percent.