In the first episode of The Debrief for this year, we take a look at what's in store for the Polish economy in 2021.
The World Bank (WB) upholds its October 20202 forecast, according to which Poland's economy will expand by 3.5 percent in 2021, according to WB's latest report.
Forecasters warn that the Siberian weather system will arrive in Poland on the 18th January, causing a record drop in temperature, the likes of which have not been seen since the year 2000.
The Fitch Agency has downgraded Poland's economic growth forecast in 2021 to 3.3 percent year on year from the 4.5 percent expected in late September and raised it to 5.1 percent in 2022 from 3.3 percent forecast earlier.
The S&P Global Ratings agency assumes that Poland and the EU will reach a compromise over funds in the next EU budget being tied to observance of the rule of law and has also lowered its 2021 GDP growth forecast from 4.5 pct to 3.8 pct, S&P has reported.
The number of organised foreign tourist trips in 2021 is expected to drop by 60-70 percent compared to the pre-pandemic year of 2019, according to the Polish Ministry of Development, Labour and Technology.
The International Monetary Fund forecasts the general government sector deficit to be at the level of 4.3 percent of GDP in 2021, according to its cyclical Fiscal Monitor report.
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 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.
S&P Global Ratings maintained its forecast for the decline in Poland's GDP at -4 percent in 2020, according to a press statement released on Wednesday.
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