The Polish economy may shrink in 2020 for the first time over the past 30 years, recording a recession of 3.9 per cent, and in 2021 it will begin to recover gradually, according to the World Bank report published on Wednesday.
As indicated in the report on the economic situation in the region of Europe and Central Asia by the World Bank, the decreasing restrictions related to the pandemic, the return to normality of many industries in the economy, government aid programs, as well as a slow recovery in the main trading partners will allow Poland to return in 2021 on a path of moderate growth.
According to economists from the World Bank, in 2021, gross domestic product (GDP) growth may reach 3.5 per cent. ‘The expected recession in 2020 is to be shallower than the 4.2 per cent assumed in June. In turn, the rebound in 2021 may be faster than the 2.8 per cent forecast in June’ – it was written. Experts noted that the forecasts were, however, burdened with a considerable risk of error and may turn out to be too optimistic.