The year-on-year 0.5-percent increase in Poland's sold industrial production in June is beating all forecasts.
Poland's Finance Ministry expects the country's economic growth to rebound by 4-4.5 percent in 2021, which is much in line with the forecast issued by the European Commission (EC), Finance Minister Tadeusz Koscinski said on Thursday.
The Polish economy will shrink by 4.6 percent in 2020 and will expand by 4.3 percent in 2021, as the HICP inflation declines to 2.7 percent in 2020 and edges up to 2.8 percent in 2021, the European Commission (EC) said in its Spring 2020 Economic Forecast.
The Fitch ratings agency on Monday maintained Poland's GDP growth forecast at -3.2. percent in 2020 and at 4.5 percent in 2021.
Ratings agency Moody's has downgraded Poland's economic growth forecast to minus 3.8 percent from an earlier forecasted negative of -2.0 percent growth in 2020.
Poland's Ministry of Finance does not rule out a downward correction to its current GDP growth forecast of minus 3.4 percent, the deputy director of the ministry's macroeconomic policy department, Joanna Beza-Bojanowska, told a Wednesday press conference.
The Polish economy is perceived as the most resilient to the pandemic crisis in the European Union, Bloomberg agency reported on its website.
S&P Global Ratings has revised its forecast for the decline in Poland's GDP to -4 percent in 2020 from the previous -2 percent, according to an S&P report from May 7.
The Polish economy will shrink by 4.3 percent in 2020 and will expand by 4.1 percent in 2021, as the HICP inflation declines to 2.5 percent in 2020 and edges up to 2.8 percent in 2021, the European Commission (EC), the EU's executive arm, said on Wednesday.
Poland's economic growth will decline to minus 1.7 percent in 2020, the ratings agency Fitch said in its latest forecast, cutting its previous growth estimate of minus 0.6 percent.